Panasonic's 海角视频 division has seen a significant decline in microwave sales as consumers increasingly favour air fryers for their home cooking needs.
The Cardiff-based company, which produces microwaves alongside medical devices, reported a 10 per cent drop in revenue from its microwave oven division to £44.8 million in the year to the end of March. Based on an average sale price of £75, this equates to approximately 64,000 fewer microwaves sold, as reported by .
This decline contrasts sharply with the performance of leading air fryer manufacturer Ninja, whose 海角视频 subsidiary recorded a 66 per cent surge in sales, according to its latest accounts, as it benefited from the growing demand for the popular hot air-based cooking appliance.
READ MORE: {}
"The European consumer market continued to show signs of weakness, with rising cost and ongoing inflationary pressures," Panasonic said.
"These economic challenges combined with declining income expectations and reduced customer willingness to spend, have negatively impacted demand."
The company added that "a full recovery in consumer demand is not expected in 2026 however the division has secured several new confirmed projects and is expanding its customer base."
Panasonic 海角视频, which last year launched its first hydrogen-powered facility in Europe at its Welsh microwave factory, reduced its workforce by 33 to 320 employees earlier this year, the accounts reveal. "The division's cost-reduction strategy remains focused on strengthening supplier partnerships in the Far East and continuously improving productivity," the company said.
"By securing better procurement terms, integrating supply chain activities, automating processes, and investing in staff development, the. company aims to drive operational efficiencies."
Most Read
The firm reported a £3.7m loss for the year, representing a modest improvement on the previous year's £4.9m deficit.
Like this story? Why not sign up here for free to get the latest business news straight to your inbox.