BREAKING NEWS: Panasonic Quits TV Market
As exclusively tipped by ChannelNews Panasonic Australia has quit the Australian TV market with insiders claiming that the move came after retailers experienced slow demand for the Japanese Companies TV.
The move opens the door up for Sharp who recently appointed Tempo to distribute their appliance products in Australia.
Recently several retailers told ChannelNews that they were interested in replacing the struggling Panasonic brand with Sharp TV’s which in the past have been an extremely popular brand in Australia before being withdrawn from the market.
Panasonic claim that they decided to withdraw from the Australian television market in 2020, in light of current local market conditions and to allow the company to focus on other established and emerging areas of the business.
It’s tipped that Panasonic will launch several new products into new categories in Australia to replace lost revenue from there decision to exit the Australian market.
The Company said that their current range of TV’s will continue to be sold via retailers in Australia while stocks last. At this stage its not known whether the Company will launch a discount campaign to move stock out of stores.
Panasonic Australia said that they will also continue to provide customer service to all owners of its television products. We will always put our customers first and provide the highest level of support.
This decision will not affect any other products in our Home AV range or any other categories, which remain available in Australia in 2020 and beyond.
We’re excited by what’s in store this year across our broad portfolio of consumer electronics and appliance categories – including our popular audio, video and LUMIX imaging products, our growing range of personal care and kitchen appliances, and our award winning air conditioning range, as well as our recently re-launched Technics premium audio brand.
Panasonic has been an industry leader in consumer electronics for more than 100 years and we are proud of the enduring success of our business in Australia. Panasonic will continue to evolve its portfolio of products and solutions to meet the needs of the Australian market.