Panasonic is making a major push to sell its home appliances in Europe, it said on Tuesday, betting that energy-efficient washing machines and refrigerators can pry open consumers’ wallets.
Panasonic is already well-established as a white goods manufacturer in Asia, is hoping environmentally-conscious European consumers will pay a premium for low water and energy consumption, helping it reach a goal of doubling sales in Europe to 80 billion yen in the next five years. “We have the environmental technologies to win in Europe,” said Haruyuki Ishio, vice president of Panasonic’s home appliances business, noting there was a “strong sense of environmental awareness” in Europe.
Panasonic already sells home appliances such as vacuum cleaners and microwave ovens in Europe but its new products are aimed squarely at taking on established European appliance brands such as Bosch and Electrolux.
Manufactured in China, the top-end fridge is expected to sell for about £900 while the washing machines are to retail for between £600 and £800.
After introducing washing machines and refrigerators in seven European countries in March, Panasonic plan to expand its European sales footprint to 17 countries by September and plans to introduce further energy-efficient products.
“We will be expanding our line with a range of low-energy appliances,” Ishio said, without revealing details of what products would be released.
However, earlier this month Panasonic warned that it will lose 380 billion yen (£2.78 billion) in the current year and would cut about 15,000 jobs as, like many other manufacturers, it grapples with a widening global recession.
Even at home, Panasonic is feeling the pinch, urging its own managers and directors to each buy its products to shore up sales.
Panasonic said it plans to start offering washing machines and refrigerators in the United Kingdom, Germany, France, Spain, Poland, Belgium and the Netherlands in March. That will be followed by launches in Sweden, Norway, and Denmark in April, the Czech Republic, Slovakia, Hungary, Romania, Bulgaria, Croatia in May and Italy in September.