Federica Laricchia
Research expert covering the global consumer technology industry
Panasonic - statistics & facts
From home entertainment to consumer electronics devices, from household appliances to beauty care devices, Panasonic offers a wide range of products and services. Indeed, the Japanese company had and still has a strong presence in many different technology industries and sub-industries, of which the television, camera, and camcorder markets are just a few examples. Furthermore, the firm offers industrial solutions, including automotive, avionic, and integration systems. If, on the one hand, its variety has sharpened the company’s position in these various markets, on the other hand, it has also widened Panasonic’s rivalry, competing with the likes of many other hungry tech giants.
Panasonic’s revenue and R&D expenses decreased
Founded in 1918 by Kōnosuke Matsushita as a lightbulb socket manufacturer, Panasonic Corporation, headquartered in Kadoma, Osaka, has grown over the past century, becoming one of Japan's major international conglomerates, like Hitachi, Sony, and Toshiba. Nevertheless, in the company’s 2024 financial year, Panasonic generated a revenue of less than 55 billion U.S. dollars, dropping to an all-time low. Similarly, the firm’s investments in research and development has been decreasing in recent years, with Panasonic allocating just over three billion U.S. dollars to their R&D department in their 2024 financial year. In the same year, under 230,000 people worked at Panasonic. As for their revenue and R&D spending, the number of Panasonic’s employees has recently experienced a decline, reaching again its lowest number in that year.Panasonic’s competition: many markets, many rivals
Still, Panasonic Corporation is one of the largest consumer electronics companies in the world, with recorded sales of almost 60 billion U.S. dollars in 2023. However, the company faces stiff competition and not only in the consumer electronics market. Particularly, Panasonic competes with the tech giants Apple and Samsung, which generated sales of over 380 and 200 billion U.S. dollars in the same year, respectively. LG Electronics and Sharp are also among Panasonic’s biggest rivals in this market. Furthermore, LG Energy Solution and the Chinese companies CATL and BYD are strong competitors in the lithium-ion battery market, of which Panasonic controlled a smaller share compared to the three main leaders in 2023.
