Top 10 Consumer Electronics Companies in the World 2016
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Panasonic Corporation was founded by Konosuke Matsushita as a duplex lamp sockets manufacturer 98 years ago and is headquartered in Osaka, Japan.
It employs close to 254,084 people & Panasonic has three major business units namely, Consumer, Solutions and Components & Devices. Panasonic encumbers a wide array of electronics ranging from Televisions, Cameras, Audio/Video recorders, home appliances, personal health care, communication products, batteries, video game consoles etc.
Recently the company has also ventured into indoor agricultural farming using its own harvesting facility and has begun to retail the same. It has also invested in Tesla Motors’ battery factory due to its expertise in battery storage equipment. Panasonic used to own the legendary Universal Studios which was later sold off. When it comes to LCD TV manufactures in the world, Panasonic holds about 2.89% of market share globally. In electrical vehicles, Panasonic leads the game with a whopping market share of 39%. Some of the core strategies in the major business units include, Accelerating growth and sales by creating locally self sustaining management in consumer electronics, Focussing on the age free, remodelling and overseas fields in housing and Promoting the development of core devices in order to enhance competitiveness in devices.
The breakdown of 2015 sales is as follows: The highest 34% was contributed by Automotive & Industrial Systems, followed by 22% contributed by Appliances, 21% contributed by Eco solutions, 14% contributed by AVC Networks and 9% by other miscellaneous businesses. Panasonic first acquired a 70% stake in a major deal of Sanyo electronics and then took full control of the company in 2011. Panasonic also acquired major US refrigeration firm Hussmann in late 2015 on a $1.5 billion deal to leverage its stake in the food distribution industry. One another remarkable deal includes acquisition of Bayer’s diabetes care business for $1.1.5 billion.