Panasonic Corp., the world’s largest maker of consumer electronics, said it outpaced competitors in North American sales of high-definition TVs and Blu-ray movie players over the holidays.

The region’s sales exceeded last year’s total, even as the percentage growth slowed to the single digits, Yoshihiko Yamada, chief executive officer of Panasonic’s North American business, said yesterday in an interview at the Consumer Electronics Show in Las Vegas. Before October, overall sales growth had been in the double digits, Panasonic said.

The Osaka, Japan-based company expects new TV features, such as 3-D viewing and higher energy efficiency, to entice customers and help it maintain growth through the recession. While high- definition products generated “very strong business” over the holidays, slumping auto sales ate into orders of its car electronics, Yamada said.

“October, November and December, while disappointing, were not as bad as some of the other manufacturers have announced,” said Joe Taylor, chief operating officer for the North American unit, without naming the other companies. “Our hope is that we’ll bottom out some time maybe late spring, early summer. But we won’t see a complete turnaround probably for years.”

Panasonic’s U.S. shares dropped 14 cents, or 1 percent, to $13.42 yesterday on the New York Stock Exchange. They fell 39 percent last year.

Sony’s Sales

Sony Corp., the second-largest electronics company, said this week that U.S. sales of liquid-crystal-display TVs and Blu- ray players exceeded expectations last month. The Tokyo-based company didn’t give specifics.

Both manufacturers are demonstrating new products at the Consumer Electronics Show, which runs through Jan. 11. About 20,000 products will debut at the event, estimates the Consumer Electronics Association, which runs the show.

Panasonic doesn’t plan to delay product introductions as it copes with the slowdown, Taylor said. “It doesn’t change what’s already on the board for the next year or two,” he said.

Panasonic expects 3-D televisions to spur orders in the future. Viewers won’t mind wearing glasses because the experience will be so consuming, Yamada said.

Energy efficiency is another focus. Power consumption in new plasma TVs is half what it used to be, Yamada said. That’s winning over environmentally conscious customers, he said.

Source:Bloomberg