Electronics Company, Panasonic has announced that they are set to retake the South-African market place. They will be offering a wider range of products from kitchen utilities to home theatre systems.
For some time now Panasonic has been keeping a low profile in South Africa according to the press release. The company will however be attempting to become a household name again with their latest offerings to the South African market. Product ranges including air conditioners, washing machines and business-to-business equipment will be introduced. These expanded product ranges will be released during the year and beyond 2015.
Speaking at a media briefing on the 20th of April at Emperors Palace, Mr. Daizo Ito the regional head of Panasonic for India, South Asia, Middle East and Africa stated that the Corporation viewed quality as its measure of excellence. “Attention to detail and refined Japanese craftsmanship are inherent in all Panasonic products, from easy-to-use consumer products such as our range of audio-visual systems, cameras, home appliances, to reliable and precise business solutions including air conditioning units.”
In South Africa alone, the consumer electronics market was gauged to be around $9.4bn in 2012, and increasing to $13.6bn by 2016. (Source: African Business, The Rise and Rise of Africa’s Consumer Market.)
10 Panasonic executives have already met with key distributors in South Africa to cultivate relationships that will assist in the roll-out of the expanded product ranges. This shows the corporations serious intent to focus on the South African market and may benefit the consumer with more choice.
Urbanisation and population increases in South Africa were also a driving force behind the renewed interest from the Japanese electronics giant. The lifting of trade regulations and declining poverty levels since the 1980’s has made South Africa an easier place to do business with.