Last November took me all the way down to Panasonic’s HQ in Bracknell to see an exclusive preview of the Lumix GH5.
Like all large electronics makers, Panasonic has found it hard to make profit in an industry with increasingly tight margins. The report puts forth ways to rationalize and reorganize its business units to focus on the company’s areas of greatest strength.
The paper identifies three businesses: ‘digital cameras, private branch exchange telephone systems and optical disk drives,’ which, it says: ‘will be dismantled. Each will be scaled back and placed under the umbrella of other operations, with headcount to be reduced.’
With the number of compact cameras being sold having fallen precipitously and the interchangeable lens camera market stagnant, the digital camera division is an obvious target for cuts as part of the company’s restructuring.
This announcement comes after one of Panasonic’s biggest sales records with the GH5 out selling even Panasonic’s conservative estimate for pre sales.
Panasonic ‘The recent article featured on the Nikkei regarding Panasonic’s Imaging business was not announced by Panasonic and refers to a change in our internal organizational structure.
Integrating all consumer electronics divisions, our consumer Digital Imaging business will move under Panasonic Appliances Company and is not being dismantled.
The aim of this change is to further deepen our relationships with customers, strengthen our product capabilities, and continue to firmly develop and promote our business.’
Main report derived from DPreview.