Friday,
November 16, 2012
Panasonic
To Team Up With Itron In Smart-Meter Business
OSAKA (Nikkei)--Panasonic Corp. (6752) plans to break into the smart-meter
business by joining hands with a U.S. maker, The Nikkei learned Thursday.
Panasonic is looking to package Itron Inc.'s smart meters with its own
telecommunications devices to enable utilities to receive customers'
electricity usage data remotely. Selling the packages under its own brand
name, Panasonic aims to generate roughly 20 billion yen in annual revenue
initially.
As a start, it plans to take part in bidding for smart meters that Tokyo
Electric Power Co. (9501) is expected to start holding next year.
It is estimated that demand for smart meters will reach 70 million units in
Japan alone.
Panasonic is bracing for a second straight year of 700 billion yen-plus net
loss in the current year ending March. Since the slump in the flat-panel
television business is a major reason behind the massive losses, the company
aims to lower its reliance on digital consumer electronics, as this product
category presents intense price competition with Asian rivals. At
the same time, the firm is looking to drive growth in smart meters and other
business fields related to the environment and energy.
Panasonic and Itron will likely agree to form a business tie-up as early as next
week. The U.S. firm operates in 130 countries and controls roughly 20% of
the global smart-meter market. Panasonic also hopes to expand its
smart-meter business outside Japan by leveraging the tie-up.
Full info on Nikkei web site http://e.nikkei.com/e/app/fr/gateway/rss_news.aspx?URL=/e/ac/tnks/Nni20121115D1511F01.htm
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