Panasonic Shuts Down Refrigerator, Washing Machine Business in India Amid Prolonged Losses

 

In a significant strategic move, Panasonic India has announced its exit from the refrigerator and washing machine segments, marking the end of its presence in two key consumer appliance categories. This decision comes as part of the Japanese multinational’s larger global restructuring strategy, aimed at focusing on profitable and scalable business verticals.

The company had been grappling with sustained losses for over six years in both these segments, with extremely low market shares—1.8% in washing machines and only 0.8% in refrigerators. Despite achieving double-digit revenue growth and clocking ₹11,500 crore in FY25, these product lines continued to drain resources without contributing meaningfully to the company’s bottom line.

The Panasonic shutdown in India’s appliance space underscores the competitive pressure from entrenched domestic and global brands dominating the refrigerator and washing machine markets. Industry analysts view the move as a rational step that allows Panasonic to redeploy its investments into high-growth, innovation-driven sectors.

While Panasonic exits India’s refrigerator and washing machine markets, it is doubling down on research and development (R&D) efforts. The company is actively pursuing partnerships with leading technology firms like TCS and Tata Elxsi to enhance its capabilities in smart home solutions, energy efficiency, connected appliances, and other futuristic product ecosystems.

This exit signals a strategic shift for Panasonic India, as it aims to streamline operations, optimize profitability, and tap into sectors aligned with India’s evolving consumer demand and digital growth trajectory.