Panasonic Taiwan sees energy saving home electronics demand, logs record 6-month sales

31, Oct. 2019

Panasonic Marketing Sales Taiwan Co. President Ko Ku-shi hosts an exhibition of new Panasonic home electronics for Autumn 2019 on Oct. 29, 2019, in Taipei.
Panasonic Marketing Sales Taiwan Co. President Ko Ku-shi hosts an exhibition of new Panasonic home electronics for Autumn 2019 on Oct. 29, 2019, in Taipei.

TAIPEI, NNA - Japanese electronics giant Panasonic Corp. posted a record six-month sales in Taiwan in the April-September period this year, bolstered by a tax cut applied to energy-saving home electronics under the local government’s new environmental policy.

President Hsu Kuo-Shih of Panasonic Marketing Sales Taiwan Co. (PMST), a Panasonic sales subsidiary on the island, told NNA in an interview in Taipei on Tuesday that he forecast a further increase in revenue as “Panasonic is one of the industrial leaders in energy saving.”

PMST’s sales surged to a record 13.3 billion New Taiwan dollars ($436 million) in the six months, Hsu said. Its annual sales in the year to March 2020 are forecast to rise nearly 10 percent year-on-year to NT$24.3 billion, he added.

The revenue growth was attributed largely to a move implemented in June by Taiwan’s government to give back up to NT$2,000 apiece to the buyer of home electronics such as refrigerators, air-conditioners, and dehumidifiers, which had been officially certified as energy efficient.

Hsu said, however, Taiwan’s presidential election in January could help restrain earnings in the six months from October. Public and media concerns tend to focus on presidential elections in its final few months, leading to business declines in various industries, he said.

“Promotional activities for autumn-winter items usually get into full swing in November and December. But we already got active in October and tooHsuther steps to alleviate any negative impact,” Hsu added

The PMST president predicted that competition in the industry would intensify in the next year and beyond as rival companies are expected to introduce a series of smart electronics that can be remotely controlled through the internet of things, led by systems enabled by 5G cellular network technology.

“If smart electronics get more popular, it will highlight Panasonic’s comprehensiveness further still,” he said, adding that consumers may adhere to a single maker when they opt to operate home electronics by a single platform. “This will provide a great business opportunity for Panasonic, which is one of the world’s leaders in terms of the product lineup,” the PMST president said.

PMST held an exhibition of new products for Autumn 2019 in Taipei on Tuesday, featuring nearly 80 items. They were mainly hot-selling products in Japan, but about 40 percent of them were specifically tailored to the Taiwan market, a Panasonic spokesman said.

Washing machines and refrigerators were the main features, including a washing machine that automatically controls the quantity of detergent dispensed from a built-in reservoir. Also unveiled at the show were refrigerators that have a “quick-freeze” capacity matching the level of professional-use machines.