Japanese electronics giant Panasonic has officially exited India’s refrigerator and washing machine segments, aligning with a global restructuring strategy aimed at focusing on more profitable and future-ready verticals such as HVAC, B2B solutions, and home automation.
The company struggled for years in India’s competitive appliance market, with limited traction in the two categories. According to GfK data, Panasonic held just 1.8% of the washing machine market and 0.8% in refrigerators, having recorded six straight years of losses in both segments.
“This is in line with our global strategy and evolving market dynamics,” a spokesperson from Panasonic Life Solutions India said. “We will focus on HVAC—both commercial and residential—and televisions within the consumer business, and discontinue washing machines and refrigerators.”
The company said it would support channel partners in liquidating current inventory and continue to provide full after-sales service, including parts and warranty support.
The move follows Panasonic Group CEO Yuki Kusumi’s recent global directive to exit loss-making businesses and refocus on growth drivers to break long-term stagnation.
Despite the exit, Panasonic reaffirmed its commitment to the Indian market, saying it will continue investing in core verticals such as home automation, electricals, energy solutions, and B2B technologies. Its consumer product portfolio—air conditioners, TVs, kitchen appliances, beauty products, and Lumix cameras—will remain unaffected.
“In our journey toward long-term sustainable growth, some roles have been restructured due to the evolving business model,” the spokesperson added, acknowledging the impact on employees and expressing gratitude for their contributions.
Panasonic India reported revenues of approximately ₹11,500 crore in FY25, registering double-digit overall growth.
