Panasonic Reduces Reliance on Gome, Suning
Shenzhen Economic Daily, 6/19/09
Wu Guilin, general director at Panasonic China, has stated that the company will gradually reduce the proportion of its total sales that are made through household appliance retailers Gome (0493.HK) and Suning (002024.SZ), and embark on a major expansion of sales channels outside of household appliance stores. According to Wu, Panasonic China is currently expanding sales channels in Guangzhou at Grandbuy Electric, Panyu Shayuan, Friendship Department Stores, and TrustMart. In addition, the company is expanding channels in the Shenzhen area, including Sundan, Yiqun Electronics, Wal-Mart, and Carrefour.
From January to May of 2009, Panasonic China reduced its sales proportions in Gome and Suning stores from over 75% to roughly 50%. The company expects to lower that figure to approximately 30%.
Keywords: 002024.SZ 0493.HK Carrefour Gome hardware Panasonic sales Sundan Suning Wal-Mart retail Wu Guilin Grandbuy Panyu Shayuan Friendship Department Stores Yiqun Electronics TrustMart
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