The relationship between Panasonic Corporation (ADR) (OTCMKTS:PCRFY) and Walt Disney Co (NYSE:DIS) has moved a notch higher with the former now ceasing to be just a projector supplier for the latter to becoming an official technology partner. In an announcement made during the Consumer Electronics Show on Wednesday, the move was attributed to the need to offer customers an improved entertainment experience.
“Panasonic is delighted to work with Walt Disney World Resort and Disneyland Resort in exploring new ways in which its high-performance projectors may be used to support the Disney storytelling…” part of the statement from Yasuji Enokido, the president of Panasonic AVC Networks, said.
House of the Mouse
Currently, some of the Disney-themed parks that are using the projector technology from Panasonic include Disneyland Park’s Finding Nemo Submarine Voyage and Magic Kingdom Park’s Haunted Mansion. The move by Panasonic from being a supplier to a technology partner is expected to lead to more such arrangements in the tech sector.
Panasonic’s president also let it slip that the firm was adapting itself to a business model that was customer-centric and will be looking for opportunities that lie in OPEX management services and IoT solutions. While the current partnership with Disney is providing projector solutions to parks, the chief executive officer of Panasonic also added that they would be expanding their offerings to include other services and solutions.
Light ID technology
One promising new area is the light ID technology from Panasonic. This technology works like a QR code scanner in that it scans and pulls up information from light patterns that have been illuminated by a smartphone app. The technology could be used in products stocked in shops and stores. For instance, a smartphone user could scan a merchandise item in a store and then obtain information on the item’s cost, branding and other details shoppers look for before making a purchase.
In Wednesday’s trading, Walt Disney Co edged up by 1.28% to close the day at $107.44 a share. Panasonic Corporation, on the other hand, rose by 1.94 percent to close the day at $10.49 a piece.
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