Panasonic, Best Buy Partnership Hopes to Boost 3D TV Sales

March 8, 2010 - By Justin E. Gehrke

March 8, 2010 – According to a report from the Nikkei Business Daily, Panasonic Corp will team up with Best Buy in hopes of getting a jump on competing manufacturers and resellers in what is expected to be a very crowded 3D television market. Currently the number four producer of flat TVs, Panasonic would like nothing more than to be able to overtake Samsung, LG, and Sony. Doing so in the 3D TV sector of the market would simply be icing on the cake. So, what do Panasonic and Best Buy have planned?

Sources say Best Buy’s initial launch will include 300, in-store exhibition areas to provide consumers with a chance to enjoy 3D videos, before they buy. In addition to the visual campaign, Panasonic is expected to sweeten the deal by offering U.S. models at 70% of the prices offered in Japan. This last savings comes at a price, though, as the U.S. models will not include the option for internet connectivity.

Panasonic’s 50-inch, 3D TV is expected to sell for around $2,500. Though the price tag may be as much as $1,000 more than a standard Panasonic 50-inch LCD model, the company and the vendor are likely banking on the fact that many consumers will want to enjoy the 3D DVD versions of recent hits, such as Avatar, in their homes, in the same way they did in the theater. With more 3D films in the works from studios, the market is only likely to expand, in the future.

While Best Buy obviously hopes to increase their annual profit, Panasonic is probably just focusing on turning a profit at all. In the past two years, the company has had significant losses. This means that the lucrative U.S. market is an opportunity that Panasonic definitely cannot afford to miss capitalizing upon.