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Panasonic’s financials

In the fiscal year 2022, Panasonic generated more than  57 billion U.S. dollars in revenue , while Panasonic’s total assets amounted to over 62 billion U.S. dollars, a decrease of about two billion U.S. dollars from the previous fiscal year. In FY 2022, Panasonic employed 240,198 people worldwide. However, the  number of Panasonic employees  has experienced a decline from FY2019, 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  decreased since 2010, amounting to around 3.3 billion U.S. dollars in the last 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 62 billion U.S. dollars in 2021. 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.

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