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Panasonic reports profits despite TV division decline

Panasonic posted profits of 381.9 billion yen for the year ending March 2015, up 25% on the previous year. Total sales brought in 7,715 billion yen, remaining flat on 2014.

The company's appliances segment saw profit increase by 37% to 40.5 billion yen, thanks largely, Panasonic said in a statement, to overseas sales in home appliances such as air conditioners.

The TV division continues to struggle, however, due to a sharp price decline in Japan and the worsening profitability of the TV market in general. Panasonic officially ended plasma TV production in December 2013, and the TV market remains a cut-throat one, now dominated by Korean brands, LG and Samsung.

MORE: Panasonic 2015 TVs - everything you need to know

So, the automotive and industrial systems section has picked-up the slack, increasing profit in this segment by 53% on 2014, to 105.7 billion yen.

Panasonic forecast sales of 8,000 billion yen, up 4% y-o-y, and operating profit of 430 billion yen, up 13% y-o-y, for the fiscal year 2016.

Panasonic unveiled new TVs at CES 2015, and aims to release the first 4K Blu-ray player by Spring 2016.

See all our Panasonic news and reviews

Joe Cox

Joe is Content Director for Specialist Tech at Future and was previously the Global Editor-in-Chief of What Hi-Fi?. He has worked on What Hi-Fi? across print and online for more than 15 years, writing news, reviews and features. He has covered product launch events across the world, from Apple to Technics, Sony and Samsung, reported from CES, the Bristol Show and Munich High End for many years, and provided comment for sites such as the BBC and the Guardian. In his spare time he enjoys mixing vinyl and cycling.