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FINANCIAL NEWS
Panasonic to double business in MEA region by 2018
14 Oct 2014
(MENAFN) Panasonic, the Japanese firm, announced it is planning to double its business in the Middle East and Africa region, to reach over USD1 billion by 2018, Gulf Business reported.
The company, which has witnessed a drop in its market share over the last few years because of growing competition, is planning to change its corporate strategy by focusing on quality rather than quantity in the consumer goods segment of their business, as well as focusing on three main products: ACs, refrigerators and washing machines.
The company also unveiled a group of new B2B products including smart solutions in healthcare, agriculture and living and new projectors, as well as launching two new generation robots ” RESYONE and HOSPI ” targeting the healthcare sector.
“Our target is related to big events coming to this market, like the Expo 2020 in Dubai and FIFA 2022 World Cup in Qatar and these big projects will mean many opportunities for B2B,” Panasonic said in a statement.
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