Panasonic Unveils World's Smallest Digital Camera, Raises Sales Outlook (MC)

| About: Matsushita Electric (MC-OLD)
This article is now exclusive for PRO subscribers.

Matsushita Electric Industrial's (MC) leading consumer electronics brand, Panasonic, just unveiled the world's smallest digital camera with a 28mm Wide-Angle Lens.

More importantly, Panasonic expects even stronger digital camera sales following the introduction today of three new Lumix model digital cameras, and raised its sales target to over 4 million units for the fiscal year ending this March. Matsushita currently controls approximately 15% of the domestic Japanese market share and 5% of global market share,with plans to boost both of those figures in '06 onward.

At the unveiling of its new Lumix digital cameras, a director from Panasonic's AVC Networks Company stated, "Panasonic has revolutionized the world of digital photography with an optical image stabilizer and now we have incorporated a super optical zoom in a compact body, capitalizing on our 'black-box' technologies. We believe the feature-packed new models will help us reach 10 percent of the global market in the next business year. We estimate the total demand will reach 80 million units worldwide." (JCN Newswire)

MC 1-yr chart: