PC Panasonic Corp.

Panasonic Corp. (PC) launched a number of new products at the National Association of Broadcasters (NAB) 2011 show. The company unveiled a range of advanced high definition (HD) and 3 dimensional (3D) products in professional video, pro display and projection systems.

Panasonic Solutions Company (PSC), a division of Panasonic North America, introduced AG-3DP1, a 3D P2 HD twin-lens shoulder-mount camcorder; the AG-HPX250, the company’s first P2 HD handheld camcorder with AVC-Intra recording; and two new AVCCAM HD handheld camcorders, the AG-AC160 and AG-AC130, with Full HD imagers and a new, wider 21X HD zoom lens.

Panasonic also introduced AG-HPD24 P2 portable deck. The product features powerful 3D synchronized record/playback, native 24P recording with variable frame rates and 24-bit, and four-channel audio recording in AVC-Intra 100/50.

This makes high-quality video recording affordable and portable.

The new AJ-PCD30 P2 has a three-slot drive with a USB 3.0 interface. Panasonic also launched BT-LH910, a powerful 9-inch LCD monitor with newly-developed 3D assist functions.

Panasonic, the official London 2012 Olympics Partner for the Audio and Visual Equipment category, announced that its DVCPRO HD has been selected as the official recording format for capturing the prestigious competition. This is expected to boost Panasonic’s top-line growth going forward.

Recently, Panasonic won several new customer deals. Panasonic’s AG-3DA1 3D camcorders, BT-3DL2550 3D LCD monitors and rugged Toughbook laptop computers have been selected by NASA to document the training and preparation of the launch of Space Shuttle Atlantis on June 28, 2011.

NASA astronauts will use the lightweight 3DA1 to document the International Space Station in 3D. While at the International Space Station, the astronauts will conduct a number of scientific missions that they will be captured with the 3DA1.

Sinclair Broadcast Group, Inc. and NFL Films have been the other major customers of Panasonic products in most recent times.

Recommendation

We believe the new product launches will boost Panasonic’s customer base and top-line growth over the long term.

However, Panasonic continues to face tough competition from Electrolux AB (ELUXY), Koninklijke Philips Electronics NV (PHG) and Sony Corp. (SNE).

We maintain our Neutral rating over the long term (6-12 months). Currently, Panasonic carries a Zacks #3 Rank, which implies a Hold rating over the short-term (1-3 months).

 
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