Panasonic Life Solutions India said it plans to discontinue washing machines and refrigerators categories in line with global restructuring and evolving market dynamics. Sources said that the company plans to liquidate stocks in these two categories by the end of the fiscal year. 

The company will continue to have presence in other consumer categories, including residential and commercial air-conditioners, LED TVs, microwaves and electrical products besides a large B2B business in the country. 

This decision comes after the Japanese products major has been recording loss in sales and profits in washing machines and refrigerator categories for the past six years and held very low market share.

“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 Solution, among others. As a part of this growth strategy, we will focus on HVAC – commercial and residential, in Panasonic Consumer Business category and discontinuing Washing Machines and Refrigerators categories,” a company spokesperson said. 

In May, Panasonic Holdings Group CEO Yuki Kusumi had announced that the company will be undertaking large scale structural reforms while expressing concerns around low growth.

“Panasonic will support dealers in inventory liquidation and continue providing full customer service, including parts and warranty coverage,” the company added. 

“As we continue our journey towards sustainable long-term growth, we recognise that our efficiency enhancement drive and evolving business model have led to certain roles getting restructured. This is difficult but a necessary step, and we deeply appreciate the contributions of our impacted employees,” the company spokesperson added. 

It remains to be ascertained the impact it will have on company employees. Globally, Panasonic had announced a decision to reduce the workforce by 10,000 people groupwide in May. 

“We are fully committed to supporting them through this transition and are actively providing necessary assistance to ensure they are equipped for their next opportunity. Their dedication and hard work have been invaluable, and we remain steadfast in our efforts to help them move forward with dignity and confidence,” the consumer products major said. 

Published on June 26, 2025