PANASONIC CANADA TO EXIT TV BUSINESS

This decision was made in consideration of local market circumstances, and to allow the company to focus on other established and emerging areas within Panasonic’s consumer business explained Panasonic in a written statement.

Panasonic Canada assures customers that the company will continue to provide ongoing customer service and support to all owners of its television products in the Canadian market and notes that today’s announcement is specific to the TV business in the Canadian market and Panasonic will continue to offer TVs for sale in other regions.

Panasonic stresses that the decision to no longer provide TVs as a product offering in no way diminishes the company’s commitment to other consumer categories particularly in audio and headphones where Panasonic is an established partner to the specialty AV retail channel. “The Panasonic team is extremely excited by what’s in store for the company this year, across a broad portfolio of consumer electronics and appliances” added Peter Bolte, Panasonic General Manager Marketing, Consumer Products Division.

Added Bolte, “Panasonic has been a global industry leader in consumer electronics for more than 100 years and we are proud of the enduring success of our business in Canada over the past 50 years. Our future product roadmap is strong, and we look forward to continuing to bring exciting new products to Canadian consumers”.