‏إظهار الرسائل ذات التسميات Panasonic. إظهار كافة الرسائل
‏إظهار الرسائل ذات التسميات Panasonic. إظهار كافة الرسائل

Panasonic's New eSignCard is a Sustainable Alternative to Table-Top Paper Placards That Can Be Updated Wirelessly via Smartphones

Panasonic's New eSignCard is a Sustainable Alternative to Table-Top Paper Placards That Can Be Updated Wirelessly via Smartphones

Panasonic Life Solutions India (PLSIND), a leading diversified technology company, launched the eSignCard – a fully integrated digital tent card display system. The innovative solution by Panasonic’s System Solutions Division (SSD) allows businesses, irrespective of their size, to deploy eSignCards that can be updated with information wirelessly in real-time through a centralized cloud-based system accessible from smartphones.

The battery-operated eSignCard leverages Panasonic’s strategic alliance with E Ink, an ePaper technology that consumes low energy. The eSignCard solution has a wide range of applications, including replacing workstation name tags in corporate offices, educational institutes, and hospitals; displaying event agendas in conference rooms and hotel banquets; highlighting special discounts in retail stores; and presenting offers and menus in cafes and restaurants, among other uses.

Commenting on the launch, Vijay Wadhawan, Director, System Solutions Division, Panasonic Life Solutions India said, “As the need for agile technology among small as well as large businesses and institutions takes centre-stage, innovative displays and communication solutions have become pivotal. Businesses are increasingly adopting the concept of a paperless workspace where technology is being used to improve operational efficiency and reduce environmental impact. At Panasonic, we look to deliver best-in-class customer experience, with sustainable and efficient solutions. Our eSignCard is an easy-to-use solution that allows multiple layers of access through secure servers and cloud-based systems that make communicating information to multiple customers and users possible with a single click and in real time. Our long-standing collaboration with E Ink, on eSignCard and previously on Room book Plus and Electronic Shelf Labels, has helped us develop a solution that reduces energy consumption and offers a paper-like display.”

Our ePaper technology is at the heart of the eSignCard and provides a blue-light-free reflective display that mimics the natural appearance of paper while consuming minimal power,” said JM Hung, Vice President of E Ink Holdings. “Our ongoing collaboration is a commitment to creating products that not only enhance the user experience but also offer environmental benefits. The eSignCard is a shared vision of a more efficient future, where technology serves as a bridge to a sustainable world.”

Panasonic India’s System Solutions Division (SSD) develops and delivers new-age solutions which are aligned to the enterprise needs, fully utilizing the interconnectivity of Panasonic networked products. SSD is a key business driver of technology solutions for government and commercial enterprises of all sizes. The division offers unified business communications, and mobile computing, as well as solutions for security and public safety, retail point-of-sale, industrial automation, and professional audio and visual systems.

To summarize the benefits of the eSignCard solution:
  • Utilizes E Ink technology, enabling a paper-like look and low power consumption
  • Features sleek table-top design in standard 4.2”, 7.5” and 11.6” sizes, with options for single side and dual side screens
  • Available in matt metal and wood finish frame, with an option to customize
  • Remote content management, with an option to schedule information/images
  • Reduces operational costs and manual efforts
  • Sustainable alternative to printing multiple paper placards

About Panasonic Group:

Founded in 1918, and today a global leader in developing innovative technologies and solutions for wide-ranging applications in the consumer electronics, housing, automotive, industry, communications, and energy sectors worldwide, the Panasonic Group switched to an operating company system on April 1, 2022 with Panasonic Holdings Corporation serving as a holding company and eight companies positioned under its umbrella. The Group reported consolidated net sales of 8,496.4 billion yen for the year ended March 31, 2024. To learn more about the Panasonic Group, please visit: https://holdings.panasonic/global/ Panasonic Life Solutions India (PLSIND) is a subsidiary of Panasonic Holding Corporation (PHD). To learn more about the PLSIND, please visit: https://www.panasonic.com/in/

E Ink Holdings Inc. (8069.TWO), based on technology from MIT's Media Lab, provides an ideal display medium for applications spanning eReaders and eNotes, retail, home, hospital, transportation, logistics, and more, enabling customers to put displays in locations previously impossible. E Ink's electrophoretic display products make it the worldwide leader for ePaper. Its low power displays enable customers to reach their sustainability goals, and E Ink has pledged using 100% renewable energy in 2030 and reaching net zero carbon emissions by 2040. E Ink has been recognized for their efforts by receiving, validation from Science-Based Targets (SBTi) and is listed in both the DJSI World and DJSI Emerging Indexes. Listed in Taiwan's Taipei Exchange (TPEx) and the Luxembourg market, E Ink Holdings is now the world's largest supplier of ePaper displays. For more information please visit www.eink.com

World's First 5G Communication from Near Stratosphere Using 38GHz Band Achieved by a Group of Japanese Tech Companies

World's First 5G Communication from Near Stratosphere Using 38GHz Band Achieved by a Group of Japanese Tech Companies

A group of Japanese Companies including –SKY Perfect JSAT Corporation, NTT DOCOMO, INC., the National Institute of Information and Communications Technology (NICT), and Panasonic Holdings Corporation (Panasonic HD) have jointly announced a groundbreaking achievement — the world's first demonstration of 5G communication from an altitude of approximately 4km using the 38GHz band. This significant milestone represents a major step toward the realization of 5G communication from the stratosphere. The stratosphere extends from from 4 -12 miles (6-20 km) above the Earth's surface to around 31 miles (50 km).

A small Cessna aircraft, operated by Kyoritsu Air Survey Co., Ltd., was used to simulate the eventual deployment of High-Altitude Platform Stations (HAPS). The Cessna was equipped with newly developed communication equipment called the "Cessna onboard station", which is expected to be deployed in HAPS. Additionally, a lens-type antenna with an auto-tracking function served as the HAPS ground station.
 
World's First 5G Communication from Stratosphere Using 38GHz Band Achieved by a Group of Japanese Tech Companies


The trial established an aerial relay backhaul line between the Cessna aircraft (flying at an altitude of approximately 4km) and three ground stations. The communication link utilized the 5G New Radio (NR) standard with 38GHz band radio waves.

Notably, this approach represents a novel use of terrestrial 5G networks.

The successful demonstration achieved multiple backhaul lines consisting of aerial relays using the 5G NR standard with 38GHz band radio waves, marking a world first in telecommunication technology. With 5G evolution underway and 6G implementation on the horizon, efforts to expand coverage areas are crucial.

Non-Terrestrial Networks (NTN) using HAPS offer promising solutions for such expansions. The results from this demonstration will accelerate the practical application of HAPS networks.

World's First 5G Communication from Stratosphere Using 38GHz Band Achieved by a Group of Japanese Tech Companies

The four organizations involved in this project remain committed to continuing their joint efforts, aiming for the early delivery of 5G connectivity from the stratosphere via NTN using HAPS. This achievement is part of a project focused on wireless communication systems using HAPS, led by Japan's Ministry of Internal Affairs and Communications.

This groundbreaking achievement opens up exciting possibilities for enhanced connectivity and communication in the future.

IndianOil and Panasonic Energy To Form JV for Manufacturing Lithium-Ion Cells in India

IndianOil and Panasonic Energy To Form JV for Manufacturing Lithium-Ion Cells in India

Indian Oil Corporation Limited and Japan's Panasonic Energy Co. Ltd., a Panasonic Group company, have signed a binding term sheet to form a joint venture (JV) for manufacturing cylindrical lithium-ion cells in India.

This initiative is driven by the anticipated expansion of demand for batteries for two- and three-wheel vehicles and energy storage systems in the Indian market. Cylindrical lithium-ion batteries are commonly used in consumer electronics, power tools, and electric vehicles.

The two companies are engaging in a feasibility study regarding the utilization of battery technology to facilitate the transition to clean energy in India.

IndianOil and Panasonic Energy To Form JV for Manufacturing Lithium-Ion Cells in India

State-owned IOCL aims to achieve net-zero carbon emissions by 2046, aligning with the Indian government's plan to achieve net-zero for the country as a whole by 2070.

Through its partnership with IndianOil, Panasonic Energy aims to address environmental challenges, such as reducing CO2 emissions, as well as to contribute to establishing a complete supply chain ecosystem for improving India's self-reliance and fortifying India's position in the global energy landscape. This will also lead to the growth of India's battery industry by enhancing cell technology and creating domestic demand for raw materials and new entrants.

Leveraging its expertise in battery development and manufacturing, Panasonic Energy strives to contribute to the growth of the lithium-ion battery industry and India's energy transition, while pursuing its mission of helping to build a sustainable society.

Established in April 2022, Panasonic Energy provides battery technology-based products and solutions globally.

IndianOil aims to address environmental challenges, such as reducing CO2 emissions, through its partnership with Panasonic Energy. Leveraging Panasonic Energy’s expertise in battery development and manufacturing, both companies will strive to contribute to the growth of the lithium-ion battery industry and to India's energy transition, while pursuing its mission of helping to build a sustainable society.

Here're 12 Startups Shortlisted by Panasonic and 100X.VC as Part of the 1st Cohort of "PANASONIC IGNITION" Corporate Accelerator Program

Here're 12 Startups Shortlisted by Panasonic and 100X.VC as Part of the 1st Cohort of "PANASONIC IGNITION" Corporate Accelerator Program

Panasonic Life Solutions India (PLSIND) and Panasonic Corporation (PC) in collaboration with a leading seed stage venture capital (VC) - 100X.VC announced the shortlist of 12 start-ups from over 140 entries received for the ‘Panasonic Ignition’ Corporate Innovation accelerator program. Panasonic aims to mentor, guide, and fund early to mid-stage startups that are creating innovative solutions in the field of Energy Management for commercial spaces.

A total of over 140 startups applied for the program that was launched earlier this year in October 2023 under the guidance of Mr. Kunio Gohara, the Chief Transformation Officer of Panasonic Corporation. After a robust evaluation process, 12 startups were shortlisted. These startups will participate in the ‘Panasonic Ignition’ program over the next three months. They will receive comprehensive support from both Panasonic and the 100X.VC teams, in form of mentorship sessions, guidance, and financial resources to complete their project. As part of this engagement, Panasonic will also roll out challenges for the startups and based on regular reviews. The final winner will be announced in March 2024.

"We are thrilled to launch the ‘Panasonic Ignition’ program in collaboration with 100X.VC, marking a pivotal moment in driving innovation within the energy management sector," said Mr. Manish Misra, the Chief Innovation Officer, at Panasonic Life Solutions India. "This initiative underscores our commitment to fostering groundbreaking technologies and solutions that address the evolving needs of commercial spaces while contributing to a sustainable future."

"It has been a rewarding experience working closely with the Panasonic Corporation teams, from both Japan and India. Due to joint efforts by both the teams, in a very short span of time, we were able to attract so many applications from high quality startups. We look forward to working with the shortlisted startups and contribute to their journey over the next 12-14 weeks" said Mr. Yagnesh Sanghrajka, Founder and CFO at 100X.VC.

Following is the list of the 12 promising startups:
  1. SustLabs - Develops consumer IoT solutions for home energy monitoring.
  2. MinionLabs - Develop a product for measuring individual energy consumption in buildings.
  3. Clairco - Develops IoT-based smart air purification devices & space optimization.
  4. Enlite - Provides an AI-enabled wireless building management system
  5. Zodhya - Provider of energy optimization solutions for commercial spaces
  6. Living Things - Provider of a smart control hub for air conditioners
  7. Sensiable - Provider of an IoT-enabled workplace space management solution
  8. Carbon Minus - Provider of cloud-based solutions for energy plant management
  9. Nebeskie - Provider of a SaaS, AI & IoT-powered electricity management platform.
  10. Quebeq Venture  - Integrates a Virtual Power Plant with proprietary energy solutions
  11. Blaze - Provider of IoT Gateway energy monitoring, and smart control system.
  12. Cymbeline - Developer of industrial IoT with diverse hardware, middleware, analytics, and cloud.
Please visit the https://ignition.in.panasonic.com/ for more developments.

The accelerator program ‘Panasonic Ignition’ has been designed by Panasonic India Innovation Centre (IIC), part of Panasonic Life Solutions India (PLSIND) to create a platform in collaboration with 100X.VC, where selected young founders of emerging startups, will receive investment, access to various masterclasses, expert mentorship, and support around product strategy and growth that would assist them towards building innovative technologies and products while solving real-life challenges related to energy management in spatial infrastructures.

About Panasonic Group

A global leader in developing innovative technologies and solutions for wide-ranging applications in the consumer electronics, housing, automotive, industry, communications, and energy sectors worldwide, the Panasonic Group switched to an operating company system on April 1, 2022, with Panasonic Holdings Corporation serving as a holding company and eight companies positioned under its umbrella. Founded in 1918, the Group is committed to enhancing the well-being of people and society and conducts its businesses based on founding principles applied to generate new value and offer sustainable solutions for today’s world. The Group reported consolidated net sales of around 8,500 billion yen for the year ended March 31, 2023. Panasonic Life Solutions India (PLSIND) is a subsidiary of Panasonic Holding Corporation (PHD). To learn more about the PLSIND, please visit: https://www.panasonic.com/in/

About 100X.VC:

100X.VC is India's first SEBI Registered CAT-1 VC fund, which invests in early-stage startups through ISAFE Notes. Since its launch in July 2019, 100X.VC has invested in 145 startups and mentored them to enable them to further raise $75 mn. The CVC/CI arm of 100X.VC works closely with corporates and helps them in making strategic investments/ acquisitions in new disruptive ideas of early-stage startups that can add long-term value to the corporates and all its stakeholders. To learn more about 100X, please visit: https://100x.vc

Indian-Orgin Led AI Software Provider "Blue Yonder" Acquired for $7.1 Bn by Panasonic

Image via ~ Glassdoor

American Supply chain and AI software provider Blue Yonder, led by CEO Girish Rishi, has been acquired by Panasonic, in a $7.1 billion deal. With this acquisition, the valuation of Blue Yonder has now touched $8.5 billion.

Panasonic, which has already acquired 20% shares of Blue Yonder in July last year, will buy the remaining 80% of shares for $5.6 billion.

The deal is intended to close by the second half of this fiscal year

Led by Girish Rishi, who is an alumnus of University of Mumbai (1989 batch), Blue Yonder is a supply chain industry leader, providing an end-to-end platform driven by AI/ML that serves as a “system of intelligence” for its global retail, manufacturing and logistics customers. Its cloud-based LuminateTM platform seamlessly manages all nodes of the supply chain across planning, execution and commerce on one unified platform.

In a media statement, Panasonic CEO Yuki Kusumi, said --
By merging the two companies, we would like to realise a world where waste is autonomously eliminated from all supply chain operations and the cycle of sustainable improvement continues.
The acquisition of Blue Yonder will enhance Panasonic’s own digital transformation and customer-centric focus. With a planned date of April 1, 2022, the Panasonic Group will shift to a holding company system, with holding company name "Panasonic Holding Corporation", to concentrate on management resources on strategic businesses in key areas such as providing supply chain innovation and automation.

Panasonic to Launch Assistive Robots and other Smart IoT Products in India

Since the start of 2018, Japanese electronics and technology giant Panasonic is continuously advancing in its robotics, automation and Internet of Things (IoT) strategies including both IoT-based products as well as services and solutions.

In a first in India, Panasonic is looking to launch two of its latest assisted robotic products in India by early next year. This includes a robot that can carry luggage and the other one is assisted-walking robot which the company wants to launch in hospitals before selling to the consumer market.

For its robotics products, Panasonic will initially target hospitals in India and then eventually take these for B2C (business to consumer) market sales in the country.

Panasonic first unveiled its autonomous delivery robots for hospitals called HOSPI, in 2015. A part of the company's hospital porter management system, HOSPI robot is able to deliver (up to 20kg) fragile and bulky medicine, medical specimens and patients' case notes 24/7, easing manpower constraints.

[caption id="attachment_127165" width="750" align="aligncenter"]HOSPI HOSPI - An Assistive Robot for Hospitals[/caption]

For its India strategy, Panasonic wants to create a complete IoT product ecosystem by launching a slew of new IoT-based products like location trackers and mobile handsets. The company is also developing new IoT products and solutions based on Artificial intelligence (AI). These IoT products will be developed at the company's Innovation Centre in Bengaluru, that it had opened in May last year.

For next 5 years, Panasonic is investing a total Rs 240 crores in its Bengaluru centre and a part of this investment will be utilized for solutions of its digital assistant Arbo. In August last year, Panasonic had launched its first AI-based smartphones India, that comes with Arbo, the virtual assistant .

The products made at Bengaluru centre will not only be for India but also for Asia, Middle East and Africa.

Panasonic is also aiming to work with developers and form tie-ups with technology companies to build AI-specific solutions and IoT products in India.

“We are looking out for partners. It would be extremely difficult for any organization not only Panasonic to look at these kinds of developments in isolation…it's an era where masters of trades are needed. However, the core technology has to come from your side," said Manish Sharma, President and CEO, Panasonic India, to Economic Times.

Additionally, the company is also on verge of launching a competitor product for Amazon Alexa and Google Home. This home automation product however will be based on Alexa platform.

Source - cnbctv18, Economic Times, Panasonic

Panasonic Launches AI Enabled Smartphones in India

Japanese tech major Panasonic has found two new offerings to spark the interest of mobile users in India. It's India unit is trying to make smartphone users in the country sway its way by launching two new power packed smartphones, Eluga A3 and A3 Pro. Both the phones come with a virtual assistant called Arbo, which is a better version of Arbo 1.

For the unversed, Arbo is virtual assistant or digital assistant especially crafted for Panasonic customers. The virtual assistant is capable of observing its user's behavior and based on their behavior, it keeps prompting them. This means, the user will not have to put alarms or notification for anything. It's almost as if Arbo is its user’s digital buddy. Arbo 2 is an enhanced virtual assistant as Panasonic has added a number of new features to the virtual assistant.



Panasonic India's new range of smartphone support an innovative design complete with a full metal body with split-screen. Its other jaw dropping features include a massive 4,000mAh battery, enhanced camera features and a 5.2’ full-HD display screen with Asahi Dragon Trial glass and a thin bezel.

For the one's who like their phones fast in speed and a plenty in space, the 9.1mm lightweight smartphone A3 Pro comes with 1.25 GHz Quad-Core Mediatek Processor, Android 7.0 (Nougat) and 3GB RAM plus 32 GB internal memory, which is expandable up to 128 GB. In order to make the deal sweeter, Panasonic has also added Front Finger print sensor, Ambient light, Accelerometer, Proximity, and OTG to the smartphone.

There's also something for photography enthusiasts. The smartphone has a 13 megapixel rear camera, which comes with Phase Detection Auto Focus and a LED flash. For selfie lovers, there's a 8 megapixel front camera.

Speaking on the launch of the new range of smartphones to Sunday Guardian Live, Pankaj Rana, Business Head, Mobility Division, Panasonic India, said, “Further to the positive response of Eluga Ray series, we are happy to introduce two more powerful smartphones in the Eluga portfolio: Eluga A3 and A3 Pro. With the new improved features and enhanced quality the user will be able to do so much more. The Smartphones come in three stunning colors: Mocha Gold, Gold and Grey which define and compliment consumer’s style quotient. Also, our AI Assistant, Arbo, will track and understand all your activities and help you make a schedule so that you don’t miss out on anything from your daily routine.”

Panasonic Launches AI Enabled Smartphones in India

Japanese tech major Panasonic has found two new offerings to spark the interest of mobile users in India. It's India unit is trying to make smartphone users in the country sway its way by launching two new power packed smartphones, Eluga A3 and A3 Pro. Both the phones come with a virtual assistant called Arbo, which is a better version of Arbo 1.

For the unversed, Arbo is virtual assistant or digital assistant especially crafted for Panasonic customers. The virtual assistant is capable of observing its user's behavior and based on their behavior, it keeps prompting them. This means, the user will not have to put alarms or notification for anything. It's almost as if Arbo is its user’s digital buddy. Arbo 2 is an enhanced virtual assistant as Panasonic has added a number of new features to the virtual assistant.



Panasonic India's new range of smartphone support an innovative design complete with a full metal body with split-screen. Its other jaw dropping features include a massive 4,000mAh battery, enhanced camera features and a 5.2’ full-HD display screen with Asahi Dragon Trial glass and a thin bezel.

For the one's who like their phones fast in speed and a plenty in space, the 9.1mm lightweight smartphone A3 Pro comes with 1.25 GHz Quad-Core Mediatek Processor, Android 7.0 (Nougat) and 3GB RAM plus 32 GB internal memory, which is expandable up to 128 GB. In order to make the deal sweeter, Panasonic has also added Front Finger print sensor, Ambient light, Accelerometer, Proximity, and OTG to the smartphone.

There's also something for photography enthusiasts. The smartphone has a 13 megapixel rear camera, which comes with Phase Detection Auto Focus and a LED flash. For selfie lovers, there's a 8 megapixel front camera.

Speaking on the launch of the new range of smartphones to Sunday Guardian Live, Pankaj Rana, Business Head, Mobility Division, Panasonic India, said, “Further to the positive response of Eluga Ray series, we are happy to introduce two more powerful smartphones in the Eluga portfolio: Eluga A3 and A3 Pro. With the new improved features and enhanced quality the user will be able to do so much more. The Smartphones come in three stunning colors: Mocha Gold, Gold and Grey which define and compliment consumer’s style quotient. Also, our AI Assistant, Arbo, will track and understand all your activities and help you make a schedule so that you don’t miss out on anything from your daily routine.”

Panasonic Sets Up Its First India Innovation Centre in Bengaluru; To Boost IoT, AI based Technologies

Japanese multinational electronics giant have now announced its first India Innovation Centre (IIC) in Bengaluru. The centre will be first such in India and the third globally.

Panasonic India has tied up with Indian IT firm Tata Consultancy Services Ltd (TCS) for the innovation centre, which will focus on developing technologies in the field of Internet of Things (IoT), mobility and artificial intelligence.

Panasonic will invest Rs240 crore over the next five years in the centre and aims to employ around 60 people within a year, including existing employees from both TCS and Panasonic India.

Notably, Panasonic India is a key player in the entire ISAMEA (India, South Asia, Middle East & Africa) who are into transforming its business model to offer disruptive technologies in the field of IoT, Mobility, Artificial Intelligence etc.

Mr. Manish Sharma, President, and CEO, Panasonic India and South Asia and Vice President Appliances Company Panasonic Corporation says,"Our association with TCS, a credible and global name in Engineering R&D and Information Technology space, will open up new dimensions and modernize technological thinking." "The India Innovation Centre will provide an environment to reimagine and incubate ideas across the key focus areas for Panasonic i.e., connected home/community, mobility, energy, industrial and finance solutions," he adds.

"The India Innovation Centre will provide an environment to reimagine and incubate ideas across the key focus areas for Panasonic i.e., connected home/community, mobility, energy, industrial and finance solutions," he adds.

Panasonic's other innovation centres are in Japan and the US – both of which were set up last April. The firm’s innovation centres function independently from its Centre of Excellence (CoEs).

Las month, Panasonic in partnership with Tata Elxsi opened its R&D centre in Bengaluru to boost AI-based innovations in India.

Nokia to acquires Panasonic's wireless business

nokia buys panasonic

Nokia is contemplating buying a part of Panasonic's wireless/network business in order to increase its operations in Japan. This move by the Finnish firm will also strengthen its mobile broadband portfolio for an undisclosed amount.

According to a statement released by the Finnish firm yesterday, Nokia Networks has entered into a memorandum of understanding to acquire part of the wireless network business of Panasonic System Network Company Ltd.

The statements also makes it clear that the memorandum includes Panasonic’s mobile phone wireless base station system business for mobile operators and related wireless equipment system business.

Nokia and Panasonic have agreed on concluding the agreement by September 2014. According to the customary closing conditions and regulatory approvals, the closure can be expected to be scheduled around 1st January next year.

The deal further includes transferring of business contracts and fixed assets from Panasonic’s customers to the Nokia Networks. The transferring also includes transferring of Panasonic employees who are a part of the business.

According to Ashish Chowdhary, Executive Vice President, Nokia Networks, Nokia considers Japan as a crucial market for them and the company’s this agreement with Panasonic will be a major milestone for building closer ties in the country.

The Finnish firm will try to achieve its aim of strengthening and improving its quality and efficiency control for product development and R&D through the help of this acquisition.

Though this acquisition, Nokia will also be successful in increasing and strengthening its market share in Japan for base station systems and related wireless equipment.

The statement released by the Finnish firm also clearly mentions that the firm will take advantage of its long global experience and technical leadership title in the broadband market in order to grow its business by leaps and bounds in the recently acquired domestic carrier segment on a global level.

Nokia to acquires Panasonic's wireless business

nokia buys panasonic

Nokia is contemplating buying a part of Panasonic's wireless/network business in order to increase its operations in Japan. This move by the Finnish firm will also strengthen its mobile broadband portfolio for an undisclosed amount.

According to a statement released by the Finnish firm yesterday, Nokia Networks has entered into a memorandum of understanding to acquire part of the wireless network business of Panasonic System Network Company Ltd.

The statements also makes it clear that the memorandum includes Panasonic’s mobile phone wireless base station system business for mobile operators and related wireless equipment system business.

Nokia and Panasonic have agreed on concluding the agreement by September 2014. According to the customary closing conditions and regulatory approvals, the closure can be expected to be scheduled around 1st January next year.

The deal further includes transferring of business contracts and fixed assets from Panasonic’s customers to the Nokia Networks. The transferring also includes transferring of Panasonic employees who are a part of the business.

According to Ashish Chowdhary, Executive Vice President, Nokia Networks, Nokia considers Japan as a crucial market for them and the company’s this agreement with Panasonic will be a major milestone for building closer ties in the country.

The Finnish firm will try to achieve its aim of strengthening and improving its quality and efficiency control for product development and R&D through the help of this acquisition.

Though this acquisition, Nokia will also be successful in increasing and strengthening its market share in Japan for base station systems and related wireless equipment.

The statement released by the Finnish firm also clearly mentions that the firm will take advantage of its long global experience and technical leadership title in the broadband market in order to grow its business by leaps and bounds in the recently acquired domestic carrier segment on a global level.

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