Philips India targets 10% stake in TV Market by 2016

PE Electronics, the license holder of Philips brand of TVs in India is targetting a 10 per cent market share in the segment by 2016 with a turnover of up to Rs 1,800 crore in next two years.
Philips India targets 10% stake in TV Market by 2016
PE Electronics, the license holder of Philips brand of TVs in India is targetting a 10 per cent market share in the segment by 2016 with a turnover of up to Rs 1,800 crore in next two years.
 
Currently,the company has its presence in top 50 towns is now gearing up to enhance its sales and service network in small towns by adding smaller screen size TVs under the Philips brand.
 
Expressing views on the matter,PE Electronics Chief Executive Officer Neeraj Sethi told media: "We would definitely be a brand with 10 per cent of the market share by 2016. By then, the sales would be around million units with turnover of at least Rs 1,700 crore to 1,800 crore." 
 
Besides, PE Electronics was established in 2010 and has marketing rights of two brands, Philips in TV domain and Electrolux in the home appliances segment through a licensee agreement.
 
"With Philips, we have around five per cent market share and for Electrolux we have four per cent market share," he added.
 
Sethi did not share the revenue details of the company. PE Electronics has recently launched a 4K Ultra HD television range priced between Rs 1,55,000 and Rs 3,72,500.
 
Over network expansion, Sethi said: "In the last three to four years we focused on top 50 towns...We are present with 15 per cent market penetration and are targeting to be selling from 30,000 counters by the end of this year."
 
According to him, within three years, PE Eelectronics would be able to reach B-class towns.
 
"These smaller towns would be definitely be catered with small screen sizes, but not with the focused approach right now," Sethi added.
 
On competition with homegrown players like Micromax and Intex, he said: "Philips has a history of almost eight decades in India and it enjoys brand loyalty as it offers quality products with technology differentiation.
 
"We would never compete with brand which are lower on the quality scale, but will offer best features at a price which is affordable," Sethi added.
 
On licensing agreement with Philips, he said: "We had five years license agreement which was extended for two years till 2017 and can be extended again."
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