The two established brands and producers of the electronic items and home appliances, Panasonic and PEL have entered into a partnership to capture the Pakistani market with the combined sales, after-sales, and distribution strategy starting for various models of air-conditions, which is in high demand these days.
According to the joint official announcement, Panasonic Marketing Middle East and Africa (PMMAF) have announced its new collaboration in Pakistan with Pakistan Elektron Limited (PEL) after a joint market assessment. While specifics are being worked by their respective teams, both companies in principle have agreed to jointly offer a diverse range of premium and locally-fit products to better meet the unique needs of the Pakistani market.
The collaboration will kick start with the distribution of Panasonic’s latest line-up of air conditioner models and gradually aim to expand into other categories.
The official notification cited in an industry report stated that the demand for ACs has been increasing throughout the country due to rising urbanization, expanding middle-class population, and a growing workforce with high purchasing power.
To meet the high demand for the cooling appliance, Panasonic will relay on its multi-decades expertise in AC business backed by PEL’s in-depth understanding of the Pakistani market, strong distribution network, and after-sales service.
Panasonic claims that it will introduce wall-mounted split AC systems that offer comfort, reliability, and efficient cooling, as well as boast cutting-edge technologies that help drive maximum efficiency and powerful performance.
PEL is an old player in the Pakistani market backed by the local Saigols Group compared with Panasonic. The group has been operating the company since 1981 having diversified businesses in different sectors such as textiles, real estate, communication, and etc.
The collaboration of Panasonic and PEL may intensify competition in the market however there are various other local and Chinese brands penetrating in the market due to their comparatively lower prices than renowned brands.
In 2017, two electronics giants —Waves and Singer— had merged to become one company in order to give synergy to the operations while tapping maximum share in the local market through various electronics and home appliances.
As the summer season kicks off throughout the country, the demand for AC is high across the country. Various brands witnessed a high sales season of their cooling appliances. Every year, the prices of ACs go up substantially in the local market, on the other hand, many of the dealers do attract customers through installments of payments.