Panasonic aims to double revenue from appliance sales here by 2020

To mark its 100th anniversary in 2018, the Japanese home-appliance manufacturer and distributor also aims to be among the top premium brands within three years.
“From the fiscal year of 2017 starting from April, we want to maintain double-digit growth until 2020 after last fiscal year is expected to end up with 15-per-cent growth in [to] revenue of Bt12 billion in Thailand,” Hiroyuki Tagishi, managing director of Panasonic Appliances Asia Pacific, said yesterday. 
Sales of air-conditioners were the biggest contributor at 35 per cent last year, followed by refrigerators at 18 per cent and washing machines at 15 per cent, while other products such as televisions sets, digital cameras and water heaters accounted for the rest. 
Tagishi said his company believed that the market for electrical home appliances in Asia, particularly in Vietnam, Indonesia, the Philippines and Thailand, had high potential for growth.
Takeshi Nomoto, chief executive officer of the Panasonic Group of Companies in Thailand and managing director of Panasonic Asia Pacific Sales (Thailand), said the overall market for home appliances in Thailand in 2017 was expected to grow by as much as 5 per cent compared with last year. 
Under its goal to position itself as a top premium brand, Panasonic is preparing to launch 47 new models this year, mainly premium air-conditioners, refrigerators and washing machines.
Speaking in his capacity as |managing director of Panasonic Appliances Air-Conditioning Malaysia, Hiroyuki Iwaki said air-conditioners were one of the flagship product categories that would accelerate growth for the company in the near future thanks to their innovation and design. 
Iwaki said he hoped to make these products No 1 with a share of more than 27 per cent of the air-conditioner market [where, Malaysia, Thailand or Asia-Pacific?] by 2020. Currently the company is ranked No 4 with about a 20-per-cent share, following market leaders Daikin, Mitsubishi and Samsung. 
Iwaki said he hoped to make these products No 1 with a share of more than 27 per cent of the Thai airconditioner market by 2020. Currently the company is ranked No 4 with about a 20percent share, following market leaders Daikin, Mitsubishi and Samsung. 
Panasonic has constructed a new factory to produce indoor air-conditioners in Thailand, and it started production on January 9. Its annual production capacity is 500,000 units a year, of which 60 per cent will be for export and the rest to serve domestic demand.