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Panasonic to exit washing machines, fridge markets; layoffs expected
Panasonic Holdings is exiting India's refrigerator and washing machine sectors due to intense competition and low market share, impacting its consumer electronics business. The company will shut down production at its Jhajjar factory, resulting in potential layoffs. Panasonic will now concentrate on core areas like televisions, air conditioners, and B2B solutions, aligning with a global restructuring strategy.
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