Panasonic has announced its withdrawal from the Australian TV market so it can 'focus on other established and emerging areas of the business'.
The Japanese company's current TV range will still be sold in retailers while stocks last, and Panasonic Australia will continue to provide customer support, but new models won't reach Australian shores from 2020 onwards.
According to the official statement (in full below, its decision 'will not affect any other products in our Home AV range or any other categories, which remain available in Australia in 2020 and beyond'.
Panasonic makes excellent TVs – it's behind one of our favourite OLEDs, for one – but its exit from the Australian TV market is the latest evidence of the company reigning back its TV business. It comes four years after its quiet withdrawal from the North American market in 2016, before which operations were scaled back as its plasma production ended.
Panasonic Australia has issued the following statement:
Panasonic Australia has decided to withdraw from the Australian television market in 2020, in light of current local market conditions and to allow the company to focus on other established and emerging areas of the business.
Panasonic has informed our valued retail partners of this decision, and will continue to build on our strong and successful relationship with them as we work together to offer the diverse range of Panasonic products to Australian consumers.
Our current range of high-quality television models will continue to be sold via retailers in Australia while stocks last. Panasonic Australia will also continue to provide customer service to all owners of its television products. We will always put our customers first and provide the highest level of support.
This decision will not affect any other products in our Home AV range or any other categories, which remain available in Australia in 2020 and beyond.
We’re excited by what’s in store this year across our broad portfolio of consumer electronics and appliance categories – including our popular audio, video and LUMIX imaging products, our growing range of personal care and kitchen appliances, and our award winning air conditioning range, as well as our recently re-launched Technics premium audio brand.
Panasonic has been an industry leader in consumer electronics for more than 100 years and we are proud of the enduring success of our business in Australia. Panasonic will continue to evolve its portfolio of products and solutions to meet the needs of the Australian market.