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Panasonic aims to earn INR 1000 Cr in revenue from Smart Factory business

Panasonic refrigerator

Panasonic, a Japanese company in India, doing its business quietly and stealthily just like a ninja. A company which has products ranging from services to electronics has had a lot of success in India. The company is a household name in India and there is a possibility that more women might know Panasonic in India than men. The reason for this, apart from patriarchy is that Panasonic is known for its home appliances.

The home appliance market in India might be dominated by the South Korean LG but Panasonic is not far behind. It is one of those companies which produces around everything in the home appliance market. The company has products such as washing machines, refrigerators, electric rice cookers, electric irons, mixer-grinders/blenders and other equivalents in the Indian market.

The company even has a subsidiary which is also one of the most successful companies when it comes to electrical wiring and equipment. Anchor Electricals is a fully owned subsidiary of Panasonic and the company is enjoying a good revenue from the same. The headquarters of the company is situated in the state of Haryana and Mr. Daizo heads the office.

Panasonic, however, is betting big on the smart factory business of the company. The Japanese company is looking to earn revenue worth INR 1000 Cr in the coming three years from India. The company has taken some big steps in order to consolidate the software and the hardware capabilities of the company.

Around 15% of the revenue is to be generated from its solutions and digital manufacturing side of the business. Panasonic in a statement said the same. It talked about the targets of the company and the Chief Executive Officer of India for Panasonic, Manish Sharma was also talking about this. The smart factory is totally based on the Internet of Things, the company is going to use IoT to connect some of the equipment in a factory with software which will increase the efficiency as well.

Panasonic’s statement read, “The company targets to achieve Rs 1,000 crore in revenue from its smart factory business in the next three years, with solutions and digital manufacturing expected to contribute 15 percent to the total smart factory business revenue.”

Manish Sharma told TOI, “The key technology to realize a smart factory is to connect various equipment through the internet of things, to synch them and collect and control data from equipment in real time for entire production processes.”

This is new territory for Panasonic as the company will look to understand the dos and the don’ts while going deeper into this process.

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