Panasonic
reported its fourth straight year of profit growth, thanks to 53%
year-on-year growth in its automotive and industrial systems category. Panasonic
posted profits of 381.9 billion yen for the year ending March 2015, up
25% on the previous year. Total sales brought in 7,715 billion yen,
remaining flat on 2014.
The company's appliances segment saw profit increase by 37% to 40.5
billion yen, thanks largely, Panasonic said in a statement, to overseas
sales in home appliances such as air conditioners.
The TV division continues to struggle, however, due to a sharp price decline in Japan and the worsening profitability of the TV market in general. Panasonic officially ended plasma TV production in December 2013, and the TV market remains a cut-throat one, now dominated by Korean brands, LG and Samsung.
The TV division continues to struggle, however, due to a sharp price decline in Japan and the worsening profitability of the TV market in general. Panasonic officially ended plasma TV production in December 2013, and the TV market remains a cut-throat one, now dominated by Korean brands, LG and Samsung.
