Panasonic is pulling out of the television market in Australia, the company announced yesterday.
In a press statement, Panasonic said “in light of current market conditions” it has decided to withdraw from the Australian television market in 2020.
However, it will continue to focus on other products and emerging areas.
Its existing television sets in Australia will continue to be sold while stocks last. Panasonic will continue to provide customer service to all owners of its televisions.
While the Panasonic statement did not provide any figures, it has been reported elsewhere that in the overall television market in Australia, Panasonic trails behind market leader Samsung and many other brands.
In a post dated Nov 14 2018 in channelnews.com.au, it was reported: “The latest data which was collected over 21 months reveals that as of this month, in the overall market Samsung had 28.1% share, LG 18.8%, Hisense 16.2% and Sony 14.4%, TCL 5.4% while Panasonic could only manage 4.5% share.”
The Panasonic Australia statement in full:
Panasonic Australia has decided to withdraw from the Australian television market in 2020, in light of current local market conditions and to allow the company to focus on other established and emerging areas of the business.
Panasonic has informed our valued retail partners of this decision, and will continue to build on our strong and successful relationship with them as we work together to offer the diverse range of Panasonic products to Australian consumers.
Our current range of high-quality television models will continue to be sold via retailers in Australia while stocks last. Panasonic Australia will also continue to provide customer service to all owners of its television products. We will always put our customers first and provide the highest level of support.
This decision will not affect any other products in our Home AV range or any other categories, which remain available in Australia in 2020 and beyond.
We’re excited by what’s in store this year across our broad portfolio of consumer electronics and appliance categories – including our popular audio, video and LUMIX imaging products, our growing range of personal care and kitchen appliances, and our award winning air conditioning range, as well as our recently re-launched Technics premium audio brand.
Panasonic has been an industry leader in consumer electronics for more than 100 years and we are proud of the enduring success of our business in Australia. Panasonic will continue to evolve its portfolio of products and solutions to meet the needs of the Australian market.