Panasonic Philippines said it expects sales to increase by as much as 20 percent in 2015 to P8.4 billion from P7 billion in 2014.
Panasonic Philippines vice president Masaru Toyota said the company would expand exports to other markets, after the African market was affected by the Ebola scare.
organizations in the Philippines as a part of its corporate social responsibility
program. Shown receiving a solar lantern is Philippine Business for Social
Progress executive director Rapa Lopa (center) from Panasonic Philippines vice
president Masaru Toyota (right) and Panasonic Corp. general manager for
CSR Tishiko Inu (left). TEDDY PELAEZ
“For the African market, we believe that the current health situation makes all other issues irrelevant even spending for consumer durables. We understand that. Now, we’re on the lookout for new territories to expand to,” he said, during a ceremony in Makati City where Panasonic committed to donate 100,000 solar lanterns to non-government organizations across Asia.
The company said it expected to double production and sales to P14 billion by 2018, by introducing g more high-end products such as full-cycle washing machines, split-type airconditioner and frost-free refrigerators.
It said the increase in purchasing capacity of middle-income Filipinos would support the growth projection.
Panasonic Philippines has engaged in various corporate social responsibility programs since 1967. Panasonic initially donated 2,376 solar lanterns to 18 non-government organizations as part of the company’s vision to resolve social challenges faced by those living in areas with limited or no electricity.
The project, launched in 2012, utilizes Panasonic’s technologies and products to help address social issues and improve lives. It has donated more than 6,000 solar lanterns to various organizations in Myanmar and Cambodia and plans to make subsequent donations to developing nations such as Indonesia, Vietnam, India and Kenya.
The cumulative number of solar lanterns donated through the project since it began will exceed 40,000 units by fiscal year ending March 31, 2015, it said.
A market leader in consumer durables, Panasonic controls about 25 percent of the airconditioner segment. It is the second top selling brand in the segment.
Panasonic also ranks second in terms of production and fourth in sales of washing machines.