Panasonic has just announced that it will be withdrawing from the Australian television market.
In a press release sent out on Monday, Panasonic has said that the condition of the local market has resulted in the company's decision to no longer sell new televisions in Australia from 2020 onward. Instead, Panasonic will focus on other established product categories, as well as unnamed emerging areas.
Considering the dearth of TV choices in Australia now - from Samsung, LG and Sony on the high end and the likes of hisense on the lower end - this isn't entirely surprising. There hasn't been a much exciting noise from Panasonic's TV department over the past few years - especially as plasma was over taken in favour of competitive OLED and QLED panel technology across so many brands.
We have also seen Panasonic shift more towards home appliances as audio, including the relaunch of its Technics audio brand at the end of 2019.
If you're a current Panasonic TV customer, don't worry. All current models that are currently in stores will continue to be sold as long as stocks last. Customer service will also be provided to all owners of current Panasonic TVs.
Panasonic's managing director in Australia, Paul Reid, has stated that this decision is only in relation to televisions. All other new Panasonic products across other categories will continue to be sold in Australia.
This story is updating...
You can read the entire statement from Paul Reid below:
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.