Panasonic to launch fewer digital cameras in fiscal 2014: Nikkei

Wed Nov 20, 2013 2:06pm EST

A man browses a Panasonic camera at an electronics shop in Tokyo May 10, 2012. REUTERS/Kim Kyung-Hoon

A man browses a Panasonic camera at an electronics shop in Tokyo May 10, 2012.

Credit: Reuters/Kim Kyung-Hoon

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(Reuters) - Japanese consumer electronics firm Panasonic Corp will launch about five compact digital cameras next year, half of this year's number, as it looks to return the business to profitability by fiscal 2014, the Nikkei reported.

Panasonic has been shifting its focus to products for businesses, such as automotive systems and housing fixtures, as it steps back from struggling operations in TVs and other consumer gadgets.

The new cameras, with features such as high-magnification zoom, will cost at least 30,000 yen ($300). Panasonic will focus on mirrorless single-lens models, the business daily said. (link.reuters.com/xec84v)

The company expects its digital camera business to report losses for the second straight year, Nikkei said.

Global digital camera sales will likely fall by more than 2 million units this fiscal year to about 4 million, the newspaper reported.

($1 = 99.92 Japanese yen)

(Reporting By Maria Ajit Thomas in Bangalore; Editing by Joyjeet Das)

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