Panasonic Strengthens Its Foothold In Southern India

images (1)Panasonic India Managing Director, Mr. Manish Sharma revealed the strategic outlook for the company which encompassed the areas which the company will be focusing on going forward. India has been identified as the centerpiece of future by the global headquarters. While the Indian arm will continue driving growth through its B2C business there will be a renewed focus on the B2B and B2G business. The key strategy for fueling even more aggressive growth in India is: to accelerate new product developments; reform the business structure through local production & consumption; and pursue autonomous management. With a studied focus, strong plans and an investment of Rs. 1,500 crores towards expansion in the next three years, Panasonic is aiming revenue of USD 3.66 billion by 2015.

Keeping in mind its focus product development the company has recently made a lot of additions to its existing range of products besides also entering new business segments like Smartphones. Panasonic will also be introducing new product ranges mainly in the Energy Solutions (products for creating, storing and saving energy), security and surveillance systems and solutions products and will also be looking at collaborating with Indian enterprises for the same.

With the festive season approaching, Panasonic today also rolled out its new line-up of DT/ET Series as a part of its VIERA TV range. With a commitment of delivering innovative value creation for its customers, the newly launched TVs promise to ‘redefine television’ with greater interaction and personalisation for their users. The new range is priced between Rs. 65,000 to Rs. 125,000 and with this; the company is expecting growth by focusing on LED models this year. With this new launch, the company is hoping to garner 10% market share in the flat panels segment.

Speaking on the launch, Mr. Manish Sharma, Managing Director, Panasonic India said “As India is a high growth market for Panasonic globally; we continue to bring latest innovation in technology and solutions customized to consumer lifestyles. The country’s southern region contributes a significant 30% to our overall sales in India and our focus is to make investments for further expansion and deliver enhanced customer value.

Mr. Manoj N G, Regional Manager, Karnataka & Kerala, Consumer Product Division, Panasonic India further added “After receiving an overwhelming response from the consumers of the state for our wide range of products, Karnataka alone contributes to 8% of total the Panasonic revenue. We are pleased to bring into the market our new range of VIERA TVs with which we aim to capture 15% of market share in Karnataka from a current market share of 12%.