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Nonetheless, Kazuhiro Tsuga, the president of Panasonic, told industry executives and reporters at the Consumer Electronics Show in Las Vegas that "Many people think of Panasonic as a television manufacturing company. In fact, for nearly 100 years we have been making a vast range of products."
Tsuga said that Panasonic will focus on selling products like batteries for cars, in-flight entertainment systems, hydrogen cells, solar panels and LED lighting to businesses, while boosting its appliance unit and reducing its exposure to the hyper-competitive consumer electronics arena.
"Panasonic's future is being built on far more than a single product category," Tsuga said.
Japan's share of the world's flat panel TV market this year likely contracted to 31 percent from 41 percent in 2010, according to the Japan Electronics and Information Technology Industries Association.
Tsuga has also vowed to deliver the details of a revival plan by the end of March. So far, he has said that businesses that fail to achieve a 5 percent operating margin within two years will be shuttered or sold.
Sales of its weakest units may start next business year.
Panasonic is forecasting a net loss of $8.9 billion in the year to March 31.