Philips Has Made Plans To Double Its Market Share In The TV Segment

Global electronic goods maker Philips is planning to double its market share in the TV segment to 10 per cent in the country by the end of 2016, a senior company official said.

The company sells its product in the country through official brand partner, PE Electronics. It took over the TV segment from Philips in the country in 2010. When it comes to TV segment, the country currently contributes 4 per cent of the global market which was valued at around USD 225 million.

Neeraj Sethi, chief executive, PE Electronics told PTI that the company currently has a market share of 5 per cent in terms of quantity under the TV segment and they are planning to increase it by the end of the next year.

Sethi also informed that in the TV segment only the company grew by three times more than that of the average market growth at 7 per cent during the last year.