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Panasonic sets $9bn sales target at new China-focused segment

Electronics maker eyes innovation hub for connected appliances

Panasonic TVs on display at a store in Tokyo. The Japanese company sees great potential in China's home appliance market.
Panasonic TVs on display at a store in Tokyo.   © Reuters

BEIJING -- Panasonic aims to boost revenue in its newly created China and Northeast Asia segment by around 40% from 2018 to 2021 to 1 trillion yen ($9.01 billion), strengthening its foothold in a future center for innovation.

Although demand is losing momentum in China, the country remains the world's largest market for home appliances. The Japanese company plans to bolster Chinese development of connected appliances and could even sell products developed in China back home in the future.

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