Panasonic aims to be a solution technology firm in coming years

Home appliance and consumer electronics maker Panasonic India is aiming to position itself as a "solution technology company" in the coming years rather than being a product company, a top company official said.

Panasonic India, a subsidiary of Japan-based Panasonic Corporation, has identified five pillars to drive growth, which includes - growing consumer business, developing solutions for living spaces, coming out with products and technology solutions in the supply chain segment and expanding energy business.

As part of its strategy, Panasonic is expecting an increased push from its consumer durable business in its revenue in the coming years along with a special focus on its solutions business which may contribute almost one-fourth of its B2B business in the next five years.

Panasonic India, which is expecting a revenue of Rs 12,000 crore this fiscal, would also expand its retail footprint focusing tier-III & -IV places and introduce products catering those small markets with