Panasonic Exits India’s Refrigerator & Washing Machine Market, Shakes Up Industry
Panasonic India has announced its exit from the refrigerator and washing machine market segments, resulting in the shutdown of its Jhajjar plant in Haryana and anticipated layoffs. This move is part of Panasonic's global strategy to focus on higher-growth sectors such as HVAC, smart homes, and B2B energy solutions. While competitors like LG, Samsung, and Haier continue to dominate, companies such as Whirlpool and Voltas are expected to gain market share following Panasonic's withdrawal.
Jun 28