Panasonic eyes European smartphone comeback

Japanese electronics vendor Panasonic has confirmed that it will be re-entering the smartphone space, with its sights fixed on the European market.

The firm aims to launch new products into Europe in March 2012, targeting sales of 1.5 million smartphones in the region over the next fiscal year. Panasonic has set itself the goal of selling 15 million units of its smartphones globally by 2016.

Nine million of these devices will be sold in Europe, Asia and the United States, and five million in the domestic Japanese market, if the firm reaches its targets. The firm said that it aims to use Europe as a stepping stone to achieve a global reach for its products.

“With the mobile phone market rapidly shifting to smartphone usage worldwide and a steady growth expected particularly overseas, Panasonic aims to tap into this growth with its first global model smartphone for the European market in March 2012,” the company said in a statement.

The firm created the Systems & Communications Company (SNC) in April this year in order to handle products and services related to system, network and mobile communications.

Phones for the Japanese market are manufactured in its factory in Malaysia and the same factory is also scheduled to manufacture the first global model.

“Panasonic will continue to expand its product lineup and increase sales in a speedy process by thoroughly utilising the group’s technological assets and development resources as well as its production and sales sites around the world, thereby strengthening development, production, and sales structure and product competitiveness,” added the firm.