Panasonic lands order for lithium cells from Indian conglomerate
(Japan Economic Newswire Via Acquire Media NewsEdge) OSAKA, Oct. 12 -- (Kyodo) _ Panasonic Corp. has received an order from Indian conglomerate Reliance Group for lithium-ion batteries for use in mobile communication base stations, industry sources said Saturday.
Panasonic has already began shipping products to Reliance, whose business sectors include telecom, financing, energy, infrastructure and health, the sources said, adding the company has not disclosed the value of the order.
The order is a boost for its strategy to increase sales to emerging markets where the electricity supply is unstable and demand for batteries as a backup for base stations is growing.
The struggling electronics maker, which is trying to enhance business from corporate customers while withdrawing from the plasma TV business, aims to increase sales of such batteries in emerging markets to the tens of billions of yen as early as in fiscal 2015.
The Osaka Prefecture-based firm is in talks for similar deals with other Indian and Indonesian firms, the sources added.
Despite frequent power outages, emerging countries are rapidly building small base stations to cater for a surge in mobile data communications due to the popularity of smartphones, boosting demand for batteries as backup.
Panasonic aims to expand its sales in India to about $3.6 billion (about 355 billion yen) in fiscal 2015, about three times those in fiscal 2012.
Its small secondary battery business, including lithium-ion cells, generated an operating profit of 4.1 billion yen in the April-June term, a turnaround from a loss of 2 billion yen in the same period last year thanks to an increased supply to U.S. electric vehicle venture Tesla Motors Inc.
(c) 2013 Kyodo News International, Inc.
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