Panasonic and Bosch to supply each otherStaff writer ▼ | September 9, 2014
Panasonic has begun setting the stage for the reciprocal supply of white goods with German autoparts and appliance giant Bosch.
Give you, give me Two giant to work together
By using Bosch's production bases and sales routes, Panasonic aims to boost its cost competitiveness and broaden its share of the European market, which it considers second in importance as a white goods market only to Asia.
Panasonic plans to boost the sales at its appliance business in Europe to 330 billion yen ($3.10 billion) in fiscal 2018, compared with the roughly 280 billion yen it garnered in fiscal 2013.
Strengthening its relationship with Bosch is a strategy that follows on the company's investment last year in Slovenian appliance maker Gorenje. Panasonic is now that company's second-largest shareholder with a 13% stake. It is using Gorenje to make refrigerators for European consumers, and is collaborating with the company in product development. ■