Smartphones: Under pressure from Chinese companies, Panasonic to exit low-end phones segment
Wednesday, June 21, 2017
India’s mobile-handset market is the latest theatre where East Asian rivalry is getting a vivid play. Such is the Chinese dominance at the bottom of the pyramid that Panasonic India is exiting the value end of the business — and scaling down its market-share goals.
Japan’s Panasonic Corp, about a century-old powerhouse in consumer electronics, wouldn’t sell feature-and entry-level smartphones in India any longer because of the intense competition from Chinese brands. In a strategy overhaul, Panasonic would also bring the distribution responsibility in-house, and pare down the market-share targets to about 5% in two years from initial projections running into two digits.
Source: Economic Times (link opens in a new window)