Panasonic Reorganized Business Fields and Two Wholly Owned Units Into Three Main Groups

To center on energy sector, Panasonic Corp. has reorganized its business fields and two wholly owned units into three main groups. According to the company, the major electronics maker's business fields as of Sunday are now divided into three groups — consumer, components and devices, and solutions — after it restructured five segments. Its 16 divisions were consolidated into nine, including appliances, energy and health care, under the three business fields. The move is aimed at expanding Panasonic's energy-solutions business by selling energy-saving products such as solar batteries and LED lighting as a package to owners of homes, retail shops and buildings, an operation the company is trying to establish as one of its group pillars amid slumping television sales. In the meanwhile, the Sanyo and Panasonic Electric brand names will be phased out. By building on the strengths of Sanyo's energy business and Panasonic Electric's housing-equipment operations, the company aims to grow its "comprehensive solutions" business into a ¥1 trillion revenue source by 2018. Source: www.ledinside.com