ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter

Panasonic to double Chinese appliance sales by fiscal 2020

Broadening customer base key to the goal for fiscal 2020

Panasonic features a few hundred items at the Appliance & Electronics World Expo in Shanghai, including white goods and a smart toilet seat.

SHANGHAI -- Panasonic will work toward increasing its sales of consumer electronics in China by 100% to around 20 billion yuan ($3.15 billion) in fiscal 2020 by reaching more of the middle class with an improved lineup of home equipment such as high-tech toilet seats and beauty appliances.

Wu Liang, managing director of Panasonic Appliances (China), revealed the goal Thursday at the Appliance & Electronics World Expo here. Sales for the current year ending in March are expected to rise 17% to around 10.5 billion yuan. The plan is to capture brisk demand for home-related spending among China's middle class by broadening the main target customers from families earning 320,000 yuan or more to those with an annual income of 250,000 yuan or higher.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more