Panasonic is betting its flat-panel TVs and household appliances will get European consumers to open their wallets, on the back of brisk demand in August and promising retail orders for September. "The summer was good for us," Laurent Abadie, Chief Executive of Panasonic Europe, told Reuters in an interview on Thursday at the IFA consumer electronics trade fair in Berlin.
"In August, for example, we grew above expectations, more than in the previous year," he said, adding that the industry was benefiting from people spending less money on activities outside the home.
"I think this crisis could be quite long but we see signs of a positive cycle (beginning) ... we have a good response from retailers for September orders," Abadie said.
One of the main drivers for growth in Europe are flat-panel TVs and Abadie said he believed sports events like the Winter Olympic Games next year and the Soccer World Cup would tempt consumers to buy new television sets.
"We have to be cautious but we are planning on growth in the coming six months," Abadie said. Panasonic aims to sell 15.5 million television units world-wide this year, compared with 10 million last year.
Like rival Sony, Panasonic announced in Berlin it also planned to launch 3D TV technology next year and, like its competitor, declined to give a definite date.
Sony Europe head Fujio Nishida did not share Abadie's optimism. He told reporters that in his opinion western Europe would not see a recovery until this time next year, and Eastern Europe even later.
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