64
+8%
6,303 $m

Panasonic is working hard to create greater impact in an industry saturated with competitors and offering seemingly slow growth. In the first year of its revitalization plan, it slashed through the wide scope of its many businesses, withdrawing from the unprofitable plasma TV and smartphone sectors and spinning off semiconductors into a separate entity. In addition to its major restructuring, it invested aggressively in the automotive-related and housing sectors, which Panasonic sees as an open channel for expansion. For example, it entered into an agreement with Tesla Motors, to construct the Gigafactory, a large-scale battery manufacturing plant in the U.S., and acquired the Turkish wiring device maker VIKO. Panasonic continues to demonstrate its commitment to corporate citizenship with initiatives such as the "100,000 Solar Lanterns" project, which donates solar-powered lights to underserved communities that lack electricity, and with the extension of its worldwide Olympic partnership to 2024 (placing the brand in prime position for the Tokyo games in 2020). It also won this year's Microsoft OEM (original equipment manufacturer) Partner of the Year Award for achieving excellence in innovation and implementation of customer solutions. Though Panasonic is still mainly associated with consumer electronics, it aims to widen this perception by promising and working to deliver"A Better Life, A Better World,"for consumers and business customers alike. At the moment, Panasonic appears to be on track to achieve the robust future growth it's aiming to create.

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