Panasonic News Update: Huge Profits Boost Panasonic’s Future
Panasonic news update: the Japanese based company has managed to turn the business around entirely and turn their $15billion net loss into a huge profit.
Having previously been one of the leading consumer electronics suppliers in the world but recently suffering massive net losses, Panasonic have had to go through a mass restructuring in order to remain in business. The process ran incredibly smoothly and correct decisions were made and the company can now report impressive profit figures that have put them comfortably back in the market.
Panasonic evaluated all of their products and altered where their priorities lay. This resulted in them pulling away from the manufacturing of products such as plasma televisions and Smartphones and more into the realm of industrial components.
One of Panasonic’s biggest contracts was increased as well; their supply of lithium batteries to the American company Tesla was previously agreed at 200 million cells over two years, up until the end of 2013. This has been reviewed and now Panasonic will supply Tesla with 2 billion cells over the next four years.
The main progress however has been made in the automated systems and eco-friendly technology departments, both have which have seen significant improvements in sales and have contributed to the success that Panasonic have found recently.
Panasonic News Update
In addition to these strategies, Panasonic have sold off a large number of their assets. This includes their American healthcare units which have recently been sold in a deal with KKR & Co for $165 billion yen. The fewer assets they have, the more flexibility they have for the investment into more relevant, contemporary companies that may be able to boost the company in a different way.
Panasonic have raised their annual net-profit target to 100 billion yen, an increase of just short of 25 billion from the original 75.52 billion that was estimated.
For more information on Panasonic and the products they offer, you can contact their customer services department using the information listed on the website Customer Services Contact. Just follow the link provided here http://www.customerservicescontact.co.uk/panasonic-phone-number/.
Panasonic products are still widely available and will continue to be so there is no need to lose sleep if you have lots of Panasonic products, trust the brand and therefore would be interested in purchasing more products. They have not entirely isolated themselves from the consumer market they are simply minimising their presence in order to sustain themselves.
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