Target $2 billion for Panasonic
Eyes tech savvy generation for 15% share of the flat-panel TV market.May 16, 2012 | comments ( 0 ) |
With commanding leadership in the Plasma realm with 40 per cent share to their name, Panasonic is all set to increase its market share from 8.3 per cent to 15 per cent for flat panel televisions. Presently, LCD’s and LED’s contribute 7.9 per cent to their business. Also Panasonic plans to reach a $2 billion mark for sales revenue by their India operations this year.
In an exclusive interaction with Indianretailer.com, Manish Sharma, Managing Director, Consumer Product Division, Panasonic India said, “We are moving ahead swiftly with a rate higher than the industry. While the industry is growing at 25 per cent, we have witnessed growth of 82 per cent. Moving ahead, we expect to add another three per cent this year.”
To achieve its target, Panasonic launched a new range of SMART VIERA flat panel televisions centered on five pillars of- quality picture, networking, easy operation, design and eco-friendliness. The launch saw the presence of Daizo Ito, President, Panasonic India, Manish Sharma, Managing Director, Consumer Product Division, Panasonic India and Ranbir Kapoor, their brand ambassador.
“We are reaching out to the deeper pockets with our wide range of products through widened distribution and channel network. With the new range of flat panel televisions and home theatre systems, Panasonic is reiterating its commitment to the Indian market”, said Daizo Ito, President, Panasonic India.
Talking about the new marketing strategy for Viera flat panels, Sharma said, “Primarily targeted at the tech savvy generation of consumer, we will be making an investment of Rs 350-400 crore towards marketing and promotions for this segment this year.”
Panasonic’s largest manufacturing facility will set in motion the production by November this year. Production investment to the tune of $200 million over a period of five years will be pumped in. Exports to Africa and Middle East can follow.
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