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Thursday, Jan. 10, 2013

Electronics maker to focus on services for major global enterprises under alliances

Panasonic in tieups with GM, IBM


LAS VEGAS — Panasonic Corp. President Kazuhiro Tsuga said Tuesday his company has concluded business alliances with General Motors Co. and IBM Corp. as he outlined its strategy to turn itself around by focusing on services for major global enterprises.

The Osaka-based electronics maker will jointly develop an information system for automobiles together with GM and cooperate with IBM in home electric appliances using cloud computing.

"We are focusing our business activities on four broad areas in which we impact people's lives — residential, nonresidential, personal and mobility," Tsuga said in a speech at the 2013 International Consumer Electronics Show, which started in Las Vegas the same day.

He said the company aims to add value to customers' lives and "one way to achieve this is by maximizing the tremendous growth potential in the (business-to-business) category, through a new business model that goes far beyond selling hardware, and offers total solutions that include software and services as well."

The firm posted an all-time-high group net loss of ¥772.17 billion in the business year that ended last March due partly to massive losses in television operations. It is also projecting another huge group net loss of ¥765 billion this business year through March.

Tsuga was the first Panasonic chief in five years to give a speech at the world's top electronics show. Japanese electronics firms are exhibiting high-end TV with better profitability at the CES, aiming to shore up their slumping operations amid fierce price competition.

Sharp Corp. is displaying for the first time its 70-inch liquid crystal display TV with so-called 4K technology, which displays images four times sharper than current high-definition resolutions.

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The Japan Times

Article 1 of 11 in Business news


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