Federica Laricchia
Research expert covering the global consumer technology industry
Get in touch with us nowPanasonic’s revenue and R&D expenses decreased
In the fiscal year 2023, Panasonic generated almost 60 billion U.S. dollars in revenue, while Panasonic’s total assets amounted to over 57 billion U.S. dollars, a decrease of about five billion U.S. dollars from the previous fiscal year. In FY 2023, Panasonic employed 233,391 people worldwide. However, the number of Panasonic employees has experienced a decline from 2019, when the company had more than 270,000 thousand employees worldwide. Moreover, Panasonic is among the companies with the most U.S. patents granted, and yet the company’s investments in research and development has decreased since 2010, amounting to around 3.3 billion U.S. dollars in the most current financial year.Panasonic’s competition: many markets, many rivals
Panasonic Corporation is one of the largest consumer electronics companies in the world, with sales of roughly 65 billion U.S. dollars in 2022. However, the company faces many competitors, and not only in the consumer electronics market. There, LG Electronics and Sharp are among Panasonic’s biggest rivals. Furthermore, LG Chem and the Chinese company CATL are strong competitors in the lithium-ion battery market, of which Panasonic occupies around 14.7 percent. Finally, since 2021, Panasonic has been playing a bigger role in the automotive telematics control market, controlled by LG and Continental, which hold over 35 and more than 25 percent of the market, respectively.
