Shinichi Wakita, managing director of Panasonic Marketing Middle East and Africa told reporters at the Gitex event in Dubai that the Japanese consumer electronics giant is aiming to double their penetration in the MENA market in the next few years.
Wakita admitted that Panasonic has been facing fierce completion lately in this market, eating into the company’s market share. Nevertheless Panasonic has set the goal of $1 billion in business in MENA by the year 2018.
“We have changed our corporate strategy now,” he said, adding that the company would focus on quality rather than quantity in the consumer goods segment.”
“We will concentrate on three products – ACs, refrigerators and washing machines in particular, because we have a very good product line-up in that segment. We will target high-end customers,” Wakita added.