Top 20 Panasonic Competitors & Alternatives in 2024

The top Panasonic competitors are Samsung, LG, Haier, Sony, Philips, Whirlpool, Blue Star, Electrolux and others. Panasonic is a multinational electronics company based in Osaka, Japan. Initially, the company’s name was Matsushita Electrical Industrial Company Limited until it was changed to Panasonic in October of 2008. Panasonic is among the biggest electronics manufacturers in Japan while as at 2012 it was ranked fourth as the largest TV manufacturer in the world judging by its market share then. Konosuke Matsushita founded Panasonic in 1918 and since then it has grown to become a leading manufacturer in the electronics industry.

As at 2023 Panasonic’s revenue stood at $62.004B, its profit was $16.735B while its assets were worth $59.641B. Panasonic annual operating income for 2023 was $2.135B. Panasonic annual net income for 2023 was $1.965B.  The company had employees who numbered 257,533 in the same period.

Its subsidiaries include Universal Lighting Technologies, Panasonic Avionics Corporation, Kawakita Denki Kigyosha, Panasonic Electric Works and Sanyo Electric Company. However, the electronics industry has a lot of competition and discussed below are some of Panasonic top competitors

Top 20 Competitors of Panasonic

1) Samsung

• Product Type: Consumer electronics
• Industry: Electronics
• Founded: 1938
• Founder: Lee Byung-Chul
• Headquarters: Seoul, South Korea
• Area served: Worldwide
• Current CEO: Han Jong-hee
• Revenue: KRW 60.01 trillion (June 30, 2023)
• Market cap: $330.48 Billion (August 2023)
• Number of employees: 270,320 (2022)

Samsung is a giant in the electronics industry. When it comes to new innovations Samsung stands out from the rest of the pack. Based in South Korea and founded in 1938, Samsung has continued to produce excellent products over the years setting new standards with each new product release. It is the world’s largest manufacturer of mobile phones and smartphones, starting with the original Samsung Solstice and later, the popularity of its Samsung Galaxy line of devices.

Operating profit rose sequentially to KRW 0.67 trillion as of second quarter 2023. As of August 2023 Samsung has a market cap of $330.48 Billion. This makes Samsung the world’s 24th most valuable company by market cap.

The company deals with a wide range of products some of which include electronic components, semiconductors, home appliances, consumer electronics and telecommunications equipment among many others. As at 2023, the company had assets worth $338.24 B with a revenue of KRW 60.01 trillion. It had 270,320 employees in 2022 serving in its different locations worldwide. Due to its wide product portfolio, presence in smartphones and consumer electronics, Samsung is one of the top most Panasonic Competitors.

2) LG

• Product Type:  Consumer electronics
• Industry:  Electronics
• Founded: 1947
• Founders: Koo In-hwoi
• Headquarters: Seoul, South Korea
• Area served: Worldwide
• Current CEO: Eun-Seok Kwon
• Revenue:  66.8 billion U.S. dollars (2022)
• Number of employees: 75,000+ (2022)
• Market cap: $12.61 B (August 2023)

Operating in more than 80 countries, LGs standing as a major player in the electronics industry cannot be underestimated. Some of the subsidiaries that are operated under the LG banner include LG Display, LG Chem, LG Electronics and LG Uplus among several others.

In 2022, LG Electronics reported a net income figure of about 1.49 billion U.S. dollars.

LG deals majorly with Chemicals, Telecommunication Equipment, and electronics. Founded in 1947, LG has developed and grown into a leading manufacturer with its wide range of products that are revolutionizing the industry. With approximately 75,000+ employees serving in its locations worldwide as at 2023, LG was able to generate 66.8 billion U.S. dollars in revenue in the same period. True to its slogan ‘Life’s Good’ LG has definitely made life easier for its customers. Although it does not have a major presence in Smartphones, LG has a fantastic presence in consumer electronics and hence is one of the best Panasonic Competitors.

3) Haier

• Product Type:  Consumer electronics
• Industry:  Electronics
• Founded: 1984
• Founder: Zhang Ruimin
• Headquarters: Qingdao, China
• Area served: Worldwide
• Current CEO: Zhang Ming
• Revenue: 242 billion yuan (2022)
• Market cap: $29.90 Billion (September 2023)
• Number of employees: 109,586 (2022)

Haier is a multinational company based in China that deals with the production of home appliances and consumer electronics. Its wide range of products include computers, TVs, microwave ovens, air conditioners, refrigerators, mobile phones and washing machines.

The company traces its roots back to 1984 when it was founded. It has its headquarters in Qingdao, China. Some of Haier’s subsidiaries include Haier Electronics Group, Qingdao Haier, Hotpoint America and Fisher & Paykel among others.

In 2022, the global sales revenue grew 7.2% to RMB 243.514 billion. The net profit increased by 12.5% to RMB 14.711 billion and recurring net profit rose by 18% to RMB13.963 billion under China GAAP.

4) Sony

• Product Type:  Consumer electronics
• Industry: Electronics
• Founded: 1946
• Founders: Masaru Ibuka and Akio Morita
• Headquarters: Minato, Tokyo, Japan
• Area served: Worldwide
• Current CEO: Kenichiro Yoshida
• Revenue: $4.957B (June 30, 2023)
• Market cap:$102B (August 18, 2023)
• Number of employees: 113,000 (2023)

Sony is one of the most respected brands in the world. Its products and services are hailed as being among the best in the world in terms of quality while its service provision is unparalleled. The company has revolutionized the industry especially with its range of world-class TVs which include the Bravia Brand.

Sony net income for the quarter ending June 30, 2023 was $1.588B. Sony operating income for the quarter ending June 30, 2023 was $-14.652B. Sony gross profit for the quarter ending June 30, 2023 was $-6.901B.

Sony’s product range includes semiconductors, computer hardware, telecommunication equipment, video game consoles and consumer electronics among many other products while some of its services include insurance, network services, and banking just to mention a few. In 2023, Sony’s revenue stood at $4.957B with assets totaling $239.878B. When it comes to Televisions, there is no doubt that Sony is one of the topmost Panasonic Competitors.

5) Philips

• Product Type:  Consumer electronics
• Industry: Electronics
• Founded: 1891
• Founders: Gerard Philips and Frederik Philips
• Headquarters: Amsterdam, Netherlands
• Area served: Worldwide
• Current CEO: Frans van Houten
• Revenue: $4.874B (June 30, 2023)
• Market cap: $20.99B (August 31, 2023)
• Number of employees: 77,233 (2022)

Organised into 3 major divisions; Phillips Healthcare, Phillips Consumer Electronics and Phillips Lighting, Phillips stands shoulder to shoulder with the industries big players when it comes to electronics. Founded in 1891 by father Frederick and son Gerald Phillips, it is headquartered in Amsterdam, Netherlands. 77,233 employees work in the company’s locations found in over 60 countries.

As at 2023, Phillips revenue is at $4.874B, its assets were worth $32.173B. Koninklijke Philips net income for the quarter ending June 30, 2023 was $0.079B. Koninklijke Philips gross profit for the quarter ending June 30, 2023 was $2.139B. Phillips has continued to dominate the industry especially with its personal care products including shavers and related appliances. Its TVs are also gaining popularity.

6) Whirlpool

• Product Type:  Consumer electronics
• Industry: Consumer goods
• Founded: 1911
• Founders: Louis Upton and Frederick Upton
• Headquarters: Benton Harbor, Michigan, United States
• Area served: Worldwide
• Current CEO: Marc Bitzer
• Revenue: $4.792B (June 30, 2023)
• Market cap: $7.6B (August 31, 2023)
• Number of employees: 61,000 (2022)

Whirlpool deals with home appliances which include KitchenAid, Indesit, Jenn-Air, Inglis, Maytag, Bauknecht and Gladiator GarageWorks among many other products. Founded in 1911 and with $4.792B in annual revenue coupled with its more than 61,000 employees, Whirlpool is the largest home appliance manufacturer in the world.

Whirlpool net income for the quarter ending June 30, 2023 was $0.085B. Whirlpool gross profit for the quarter ending June 30, 2023 was $0.816B.  Whirlpool operates in over 100 countries globally, with manufacturing facilities in over 60 countries.

The company manufacturing plants in eight locations in the USA. Apart from business, Whirlpool has also known for its charity works chief among them being the Habitat for Humanity organization where Whirlpool is the main supporter.The company has its headquarters in Michigan, USA. Whirlpool is known for its washing machines as well as consumer electronics and hence is one of the top Panasonic competitors.

7) Blue Star

• Product Type: Consumer electronics
• Industry: HVAC and refrigeration
• Founded: 1943
• Founder: Mohan T Advani
• Headquarters: Mumbai, India
• Area served: India
• Current CEO: Kamal Nandi
• Revenue: Rs 2623.83 cr (Q4, 2023)
• Market cap: 142.35 billion INR (September 2023 )
• Number of employees: 2,800+ (2022)

Since it was founded in 1943 by Mohan Advani, Blue star has been a major contributor to the electronics industry, especially in home appliances. Some of the products being manufactured by Blue Star include room air conditioners, central air conditioners, cold storages and commercial refrigeration among many other products. Blue Star is the largest after-sales HVAC&R service provider in India, maintaining around 2 million TR of equipment, and its 24×7 call center handles over 1 million service calls a year.

Blue star Net profit for FY23 grew to Rs 261.45 cr.

With 7 modern manufacturing facilities, Blue Star is the largest air conditioning company in India with around 31 offices and approximately 2800 employees. Blue Star has made alliances with other market leaders in the industry including alliances with Eaton-Williams, Hitachi, and Joel among others. Blue Star’s clients include both corporates and homeowners. Blue Star is very strong in Air Conditioners in the Asian market and when it comes to air conditioning, it is one amongst the top Panasonic Competitors.

8) Electrolux

• Product Type: Consumer electronics
• Industry: Consumer goods.
• Founded: 1919.
• Founder: Axel Wenner-Gren.
• Headquarters: Stockholm, Sweden.
• Area served: Worldwide.
• Current CEO: Jonas Samuelson.
• Revenue: $3,102 million (June 30, 2023)
• Market cap: $3.03B (September 01, 2023 )
• Number of employees: 50,769 (2022)

Electrolux is a multinational company specializing in the manufacture of home appliances. The company has its headquarters in Stockholm, Sweden. In terms of units sold, Electrolux is second only to Whirlpool as the largest manufacturer of appliances in the world.

Electrolux was founded in 1919 and ever since then, the company has not looked back as it continues to grow and expand. The company’s appliances include major appliances and small appliances. As at 2023, the company generated revenue worth $3,102 million , its profit was $479 million while its assets were worth $12,141 million. Electrolux was an employer to more than 50,000 workers in the same period.

9) Canon

• Product Type: Consumer electronics
• Industry: Electronics.
• Founded: 1937.
• Founder: Takeshi Mitarai.
• Headquarters: Tokyo, Japan.
• Area served: Worldwide.
• Current CEO: Fujio Mitarai.
• Revenue: $7.452B (June 30, 2023)
• Market cap: $25.67B (September 01, 2023 )
• Number of employees: 180,775 (2022)

Canon is a multinational company based in Tokyo, Japan. The company specializes in the production of optical and imaging products. Some of the products that have propelled Canon to the world map include camcorders, steppers, cameras, medical equipment, and computer printers.

Canon was founded in 1937 and has the following divisions; Consumer Business Unit, Office Business Unit and Industry and other Business division. The company also manufactures lenses, scanners, magnetic heads and LCDs among other products. As at 2023, Canon’s revenue was $7.452B, its profit was $3.539B. Canon net income for the quarter ending June 30, 2023 was $0.477B. Panasonic has a presence in digital photography and cameras too where Canon is one among the major Panasonic Competitors.

10) Nikon

• Product Type: Consumer electronics
• Industry: Optics and imaging.
• Founded: 1917.
• Founders: Takeshi Nagaoka and Ihei Kimura.
• Headquarters: Tokyo, Japan.
• Area served: Worldwide.
• Current CEO: Yasuo Komori.
• Revenue: $4,648 million (2023)
• Market cap: $3.77B (September 01, 2023 )
• Number of employees: 18,790 (2023)

Nikon is a multinational company based in Tokyo, Japan. The company specializes in imaging and optics products. Some of the company’s products include precision equipment, electric fan, microscopes, cameras, binocular telescope, binoculars and laser rangefinder among several other products.

Nikon is a market leader when it comes to the manufacture and sells of cameras and this is evidenced by the fact that its cameras are officially used by Walt Disney. As at 2023, Nikon had revenue worth $4,648 million with a net income of $333 million. Nikon Annual Gross Profit as of 2023 is $2,140 million.  It had more than 18,790 employees as at 2023.

11) Fujifilm

• Product Type: Consumer electronics
• Industry: Optics and imaging.
• Founded: January 20, 1934
• Key People: Kenji Sukeno (Chairman), Teiichi Goto (President and CEO)
• Headquarters: Minato, Tokyo, Japan
• Area served: Worldwide.
• Revenue: $5.840B (March 31, 2023)
• Market cap: $24.51B (September 01, 2023 )
• Number of employees: 73,878 (2023)

Fujifilm is a multinational company based in Tokyo, Japan. It specializes in imaging and photography equipment. Some of Fujifilm’s products include cosmetics, digital imaging and photography materials among others. Fujifilm was founded in 1934. Some of the subsidiaries operating under Fujifilm include Fuji Xerox, Sericol Limited, Fujifilm de Mexico.

As at 2023, the company generated revenue worth $5.840B while its net income over the same period was $0.502B with more than 73,878 employees. Fujifilm has remained relevant over the years because of the quality of its products and will remain so for years to come.

12) Bestron

• Product Type: Consumer electronics
• Industry: Consumer electronics
• Founded: 1965
• Founders: Jan Besteman and Henk van den Bosch
• Headquarters: ‘s-Hertogenbosch, Netherlands
• Area served: Europe
• Current CEO: Hans van der Ham

Bestron is a family-owned business that has been producing modern, high-quality electrical appliances for over 50 years. The company is an internationally protected brand name and is known as “The Concept Company.” Bestron produces qualitative electrical household appliances and has been successful in the industry for many years. The company has a strong reputation for producing innovative and reliable products that meet the needs of consumers. Bestron is committed to providing its customers with the best possible products and services, and its success is a testament to its dedication to quality and innovation.

13) Apple Inc

• Product Type: Consumer electronics
• Industry: Consumer electronics, software, and online services
• Founded: April 1, 1976
• Founders: Steve Jobs, Steve Wozniak, and Ronald Wayne
• Headquarters: Cupertino, California, United States
• Area served: Worldwide
• Current CEO: Tim Cook
• Revenue: $36.413B (June 30, 2023)
• Market cap: $2933.76B (August 30, 2023)
• Number of employees: 164,000 (2022)

Apple Inc. is an American multinational company that designs and manufactures consumer electronics, computer software, and personal computers. It was founded in 1976 by Steve Jobs and Steve Wozniak, who wanted to make computers small enough for people to have them in their homes or offices. Apple is one of the largest companies globally with a market cap of over 2 trillion dollars. Apple’s major product lines include Macintosh computers, iPod, iPhone, iPad, and Apple Watch.

Apple has also expanded its services segments with its credit card (Apple Card), Apple News for news, Apple Arcade for games, and the Apple TV+ for streaming original content produced by Apple.

Apple net income for the quarter ending June 30, 2023 was $19.881B. Apple operating income for the quarter ending June 30, 2023 was $22.998B. Apple gross profit for the quarter ending June 30, 2023 was $36.413B.

14) Microsoft Corp

• Product Type: Consumer electronics
• Industry: Information technology
• Founded: April 4, 1975
• Founders: Bill Gates and Paul Allen
• Headquarters: Redmond, Washington, United States
• Area served: Worldwide
• Current CEO: Satya Nadella
• Revenue: $56.189B (June 30, 2023)
• Market cap: $2351.37B (August 18, 2023)
• Number of employees:  221,000 (2023)

Microsoft Corporation is a multinational technology corporation that was founded in 1975 by Bill Gates and Paul Allen. The company’s mission is to enable people and businesses throughout the world to realize their full potential by creating technology that transforms the way people work, play, and communicate.  Its products include operating systems for computing devices, servers, phones, and other intelligent devices; server applications for distributed computing environments; productivity applications; business solution applications; desktop and server management tools; software development tools; video games; and online advertising. Microsoft also offers cloud-based solutions that provide customers with software, services, and content over the Internet by way of shared computing resources located in centralized data centers.

Microsoft is the largest vendor of computer software in the world. It has sales offices throughout the world and has offices in more than 100 countries.

Microsoft is a top tech company with a 21% market share worldwide. Microsoft net income for the quarter ending June 30, 2023 was $20.081B. Microsoft gross profit for the quarter ending June 30, 2023 was $39.394B.

In recent years, Microsoft’s revenue has climbed steadily, peaking at a record $72.74 billion in 2022.

15) Robert Bosch GmbH

• Product Type: Consumer electronics
• Industry: Technology and services.
• Founded: 1886.
• Founder: Robert Bosch.
• Headquarters: Gerlingen, Germany.
• Area served: Worldwide.
• Current CEO: Stefan Hartung.
• Revenue: 4,063 crores (454 million euros) (March 31, 2023)
• Number of employees: 421,000 (2022)
• Market cap: $6.77 Billion (September 2023)

Robert Bosch GmbH is a German multinational engineering and technology company that was founded by Robert Bosch in Stuttgart in 1886. The company is a leading global supplier of technology and services, with operations divided into four business sectors: Mobility, Industrial Technology, Consumer Goods, and Energy and Building Technology. Bosch offers innovative solutions for smart homes, Industry 4.0, and connected mobility. The company’s products and services are designed to spark enthusiasm, improve quality of life, and help conserve natural resources.

The company generated sales of 88.2 billion euros in 2022.Bosch has roughly 421,000 associates worldwide. Result improves to 3.7 billion euros.

16) Hitachi

• Product Type: Consumer electronics
• Industry: Technology
• Founded: 1910
• Founder: Namihei Odaira
• Headquarters: Chiyoda, Tokyo, Japan
• Area served: Worldwide
• Current CEO: Keiji Kojima
• Revenue: $80.521B (2023)
• Market cap: $63.73B (September 1 2023)
• Number of employees: 368,247 (2022)

Hitachi Ltd is a Japanese multinational conglomerate corporation headquartered in Chiyoda, Tokyo, Japan. It was founded in 1910 and is the parent company of the Hitachi Group. Hitachi conducts business ranging from IT, including AI, the Internet of Things, and big data, to infrastructure. The company manufactures and sells information and telecom systems, power systems, social infrastructure and industrial systems, construction machinery, and more. Hitachi is listed on the Tokyo Stock Exchange and Nagoya Stock Exchange and its Tokyo listing is a constituent of the Nikkei 225 and TOPIX Core30 indices.

Hitachi annual gross profit for 2023 was $19.899B. Hitachi annual net income for 2023 was $4.804B. Hitachi annual operating income for 2023 was $5.536B.

17) Daikin

 

• Product Type:  Consumer electronics
• Industry: HVAC and refrigeration
• Founded: 1924
• Founders: Shigeki Tsunetomi, Yoshiro Tsunetomi, and Akira Yamashita
• Headquarters: Osaka, Japan
• Area served: Worldwide
• Current CEO: Masanori Togawa
• Revenue: $27.671B (2022)
• Market cap: $51.37 Billion (September 2023)
• Number of employees: 96,337 (2022)

Daikin Industries, Ltd. is a Japanese multinational conglomerate company headquartered in Osaka and is the world’s largest air conditioner manufacturer. Daikin is a global innovator and provider of advanced air conditioning solutions for residential, commercial, and industrial application. Daikin has been in the HVAC marketplace for over 90 years and has created the most efficient, environmentally-friendly comfort systems enabled by extensive research3. Daikin innovations provide energy-efficient comfort that minimizes environmental impact and helps keep energy costs low. Daikin offers over 20 systems that qualify for federal energy tax credits, with cooling efficiencies as high as 26.1 SEER

Daikin Industries annual gross profit for 2022 was $9.41B. Daikin Industries annual net income for 2022 was $1.938B.

18) IBM

• Product Type:  Consumer electronics
• Industry: Information technology.
• Founded: June 16, 1911.
• Founders: Herman Hollerith, Thomas J. Watson, Sr., and Charles Ranlett Flint.
• Headquarters: Armonk, New York, United States.
• Area served: Worldwide.
• Current CEO: Arvind Krishna.
• Revenue: $15.475B (June 30, 2023)
• Market cap: $128.83B (August 18, 2023)
• Number of employees: 350,000

IBM, or International Business Machines, is a multinational technology company that specializes in producing and selling computer hardware, middleware, and software. Founded in 1911, IBM is one of the oldest technology companies in the world and has a long history of innovation and leadership in the industry. IBM is known for its wide range of products and services, including its mainframe computers, which are used by many large corporations and government agencies around the world. IBM is also known for its AI-powered Watson platform, which is used in a variety of applications such as healthcare, finance, and customer service.

IBM is one of the biggest technology companies in the world, with operations in more than 170 countries. IBM researchers have been awarded Nobel Prizes, Turing Awards, and other top honors for their work throughout its history.

IBM gross profit for the quarter ending June 30, 2023 was $8.501B. IBM net income for the quarter ending June 30, 2023 was $1.583B. IBM operating income for the quarter ending June 30, 2023 was $1.914B.

19) Dell

• Product Type:  Consumer electronics
• Industry: Information technology.
• Founded: February 1, 1984.
• Founders: Michael Dell.
• Headquarters: Round Rock, Texas, United States.
• Area served: Worldwide.
• Current CEO: Michael S. Dell (31 Jan 2007–).
• Revenue: $20.922B (April 30, 2023)
• Market cap: $39.95B (August 18, 2023)
• Number of employees: 133,000(2023)

Dell Technologies is a global technology company that was founded in 1984 by Michael Dell. The company is one of the largest tech companies in the world, with over 165,000 employees across the globe. Dell focuses on sales of personal computers, network servers, data storage solutions, and software. The company initially sold its products through advertisements and mail-order catalogs, and by avoiding the costs associated with traditional retail markets, Dell was able to offer high-quality PCs at competitive prices.

Dell is ranked 31st on the Fortune 500 list in 2022, up from 76th in 2021. It is also the sixth-largest company in Texas by total revenue, according to Fortune magazine.

Dell gross profit for the quarter ending April 30, 2023 was $5.018B. Dell net income for the quarter ending April 30, 2023 was $0.583B.

20) Toshiba

• Product Type: Consumer electronics
• Industry: Electronics, engineering, and energy.
• Founded: 1875.
• Founders: Tanaka Hisashige and Ichisuke Fujioka.
• Headquarters: Minato, Tokyo, Japan.
• Area served: Worldwide.
• Current CEO: Taro Shimada.
• Revenue: $7.874B (March 31, 2023)
• Market cap: $13.52B (August 18, 2023)
• Number of employees: 106,648 (2023)

Toshiba Corporation is a Japanese multinational conglomerate that produces consumer and industrial electronic products. It was formed in 1939 through the merger of two electrical equipment manufacturers, Shibaura Seisaku-sho and Tokyo Electric. Toshiba is one of Japan’s sogo denki, or general electric companies, and is considered a symbol of the country’s technological prowess. The company’s product line extends from semiconductors and electromedical devices to consumer electronics, home appliances, and nuclear power plants. Toshiba is the world’s leading maker of notebook personal computers and is among the global leaders in semiconductors and LCDs.

Toshiba net income for the quarter ending March 31, 2023 was $0.365B. Toshiba gross profit for the quarter ending March 31, 2023 was $2.226B. Toshiba total assets for the quarter ending March 31, 2023 were $26.412B.

Technology has continued to shape the way things are done and it has made life way easier compared to a few decades ago. With the increased agitation for more technological advancements, there can only be an upward trajectory in the industry and more life-changing inventions.

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