Panasonic to establish assembly plant in Nigeria
AFTER considering the strategic importance of the Nigerian market, Japan based electronics giant, Panasonic has announced its return to the country with eyes on improved market share.
To make maximum impact, Panasonic said it has partnered SIMS Nigeria, a marketing and distribution firm for efficient and effective circulation of its products across the country.
To convince competition about its readiness for a major market share and commitment to Nigeria, the Osaka-based firm also announced establishing the local manufacturing base for room Air-Conditioning and TV division in Lagos.
The firm targets a yearly production of about 100,000 Air Condition and 60,000 television sets.
In collaboration with SIMS, Panasonic said it has initiated the set-up of CKD operations with its prime focus on Japanese quality systems establishment, adding that this step would boast the Panasonic mission to increase the focus on Africa market with localisation and customer satisfaction as the key agenda.
With local sales office in Nigeria, Panasonic said is looking at a wider customer base and a stronger hold in the market.
It informed that after the successful establishment of CKD Operations in South Asian Markets, Panasonic Appliances Company will provide technical assistance to SIMS for setting up the Nigerian manufacturing unit. As one of the “premium quality” manufacturing manufacturing giants, Panasonic will focus on developing customer centric products keeping local market requirements in mind.
Speaking during the press briefing heralding the signing of the partnership, General Manager SIMS Nigeria, Fab Uzor said: “We are excited partnering with Panasonic. Many years of operating in the Nigerian market has given us an edge in understanding the psyche of the Nigerian consumer. The Nigerian market is very competitive because of the number of brands that play here. As a business you need special skills in understanding your customers to make a head way. We have successfully done this over the years which gave us prominence in the competitive electronics market.”