« Back to Home Page

Asian Technology Giants Striding into Green Products

| Wednesday May 12th, 2010 | 4 Comments

In separate announcements over the last week, two of the world’s largest makers of electronic devices, Samsung and Panasonic, have announced multi-billion dollar investments in green technology.

Despite the rather dry language of these financial announcements, the sheer amount of money involved is an exciting indication that key business decision-makers believe green technology is the future. Their investments also mean that consumers worldwide will soon see an expanding array of green products on offer.

On Tuesday, South Korean conglomerate Samsung announced at a press briefing that it would invest a whopping $20.6 billion (23.3 trillion won) in five green tech areas: solar cells, rechargeable cells for hybrid electric vehicles, LED technologies, biopharmaceuticals and medical devices, according to the Associated Press.

Last Friday, Japanese conglomerate Panasonic announced a three-year plan to transform into a “Green Innovation Company,” including investing $3.3 billion in its fuel cell business, and a $2.5 billion reorientation of its consumer products line towards greener, energy-efficient technology, according to the Wall Street Journal.

Samsung’s biggest bet will be in the LED lighting market, where it plans to spend 8.6 trillion won ($7.6 billion). LED lighting is poised to be the next big thing in energy efficiency; a report out of Pike Research predicts nearly half of the commercial lighting business will be LED by 2020.

Both companies’ plans also include aggressive moves into the solar cell market, which could help push panel prices down further in that already-crowded industry.

All in all, the news from Panasonic and Samsung is positive. For anyone looking for the “business case” for going green, clearly these two companies have found it.


▼▼▼      4 Comments     ▼▼▼

Newsletter Signup
  • Pingback: Asian Technology Giants Striding into Green Products | iBlogAuto

  • http://www.ProfessionalGreenNetwork.com antony

    General hardware are producing one the best green technology i.e solar powered phone TV sets and laundry machines. This year they have collaborated with world biggest phone manufactures like Samsung electronic alcatels in order to have efficient and reliable green technology in offer to the world.Recently they are in-consultation with Samsung to build medical camps in Kenya to help develop marginal ares in northern Kenya.

  • http://blog.babyganics.com Linda Sullivan

    This is a great move by these companies because the more green products that they produce, the more relevant their company becomes. It is an interesting thought that these companies have created a new product line that promotes green technology. This is what the worlds needs right now. Concerned people that strives for the betterment of our environment. I will take my own small steps in helping our planet by using organic cleaners in my home. Check out these cool green stuff at: http://www.babyganics.com/

  • Pingback: Asian Technology Giants Striding into Green Products |Triple Pundit | Green Company Report

  • http://www.home4eco.com home4eco

    This is great news from these electronic giants. Solar and water powered gadgets are revolutionising the way we power everyday items and reducing wastage and unecessary electricity usage.

  • http://www.home4eco.com home4eco

    This is great news from these electronic giants. Solar and water powered gadgets are revolutionising the way we power everyday items and reducing wastage and unecessary electricity usage.