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Tuesday, December 11, 2012

Panasonic lanterns 'to regain market'

Source: BDNews24

Osaka, Dec 10 (bdnews24.com) – Electronics giant Panasonic will launch solar lanterns for un-electrified areas in developing countries by early next year as it shifts its businesses to eco-technologies to bring back the losing markets by 2018, its 100th anniversary.

"We are shifting our businesses to eco-friendly areas. If we can contribute, we will be very happy as our technologies contribute," Genichiro Shimado, General Manager, International Relations Group of Panasonic Corporation said on Monday at Panasonic Centre, Osaka.

The Japanese giant is struggling to keep its grip on emerging markets where the Corporation says is facing 'strong competition' by Korean companies.

According to its 2012 financial report, the company's net sale was 7,846 billion Japanese yen which was 10 percent lower than the previous year.

"We are facing very stiff competition by Korean companies. But we will be the first in this BOP (base of the pyramid) market. Samsung has not come yet," Shimado said since their solar lantern is expected to reach the poor who use kerosene for lighting lantern at night.

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