Electronics giant Panasonic has set a global flat-panel TV sales target of 15.5-million units for the 2010 financial year, an increase of 50 per cent from the current financial year.
"Panasonic will focus on improving the basic performance of flat-panel televisions such as energy-saving and faster response time for moving pictures using the Neo PDPs and IPS Alpha LCD panels," said Panasonic Marketing Middle East (PMM) Deputy General Manager Taeko Danno. "At the same time, the TV line-ups will be expanded with the number of basic models."
Danno said the electronics manufacturer has continuously ensured double-digit growth in the Middle East. Panasonic believes that there is much scope for growth in the Middle East markets, in spite of the global economic slowdown. According to Danno, the company fully intends to capitalise on this potential for growth, and will continue focusing efforts on its customer-centric approach to reach its goal as the number one customer preferred brand in the region.
Danno said market penetration of flat-panel TVs in this region is relatively low compared to, for example, the European markets. She says that the majority of consumers in the Middle East still own CRT TVs, which by implication present growth opportunities as these consumers begin to upgrade to flat-panels.
Panasonic President Fumio Ohtsubo earlier this month said the company needed to prepare for future growth by achieving bold structural reforms and strengthening the company's management structure.
Earlier, Panasonic announced a reduction of capital investment in two of its television panel plants to ¥445 billion (Dh18bn) – down from an expected ¥580bn.
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