Panasonic to exit refrigerator, washing machine segments in India

New Delhi: Panasonic has announced its decision to exit the refrigerator and washing machine segments in India, aligning with the Japanese conglomerate’s broader global restructuring efforts. The move comes as the company seeks to focus on future-ready growth areas and address persistent losses in these categories.

Panasonic has struggled to gain traction in India’s highly competitive home appliances market. According to GfK data, the company’s market share stands at 1.8% in washing machines and just 0.8% in refrigerators, with both segments reporting losses for the past six years.

A spokesperson for Panasonic Life Solutions India confirmed the development, stating, “In line with our global strategy and evolving market dynamics, Panasonic in India is rebuilding operations to focus on future-ready growth segments such as Home Automation, Heating Ventilation & Cooling (HVAC), B2B solutions, electricals and energy solutions, among others. As part of this strategy, we will focus on HVAC—both commercial and residential—and televisions in the Panasonic Consumer Business category, while discontinuing washing machines and refrigerators.”

The company assured that it will support dealers in liquidating existing inventory and will continue to provide full customer service, including parts and warranty coverage for discontinued products.

Earlier in May, Panasonic Group CEO Yuki Kusumi had indicated that the group intends to exit loss-making businesses globally to overcome stagnation and position Panasonic for renewed growth. The company has been actively evaluating underperforming business lines and shifting focus towards market-driven, high-potential segments.

In India, Panasonic’s consumer business portfolio—including air conditioners, televisions, microwave ovens, kitchen appliances, beauty products, and Lumix cameras—remains intact. “As we continue our journey towards sustainable long-term growth, our drive for efficiency and evolving business model has resulted in some roles being restructured. This is a difficult but necessary step, and we deeply appreciate the contributions of our impacted employees,” the spokesperson added.

Panasonic India reported revenue of around Rs 11,500 crore in FY25, marking double-digit growth for the year.