The company had launched premium smartphones earlier this year with the aim to grab 8 per cent of the market share in its first year.
Commenting on the news, Manish Sharma, managing director-India, Panasonic said, “Panasonic is conscious of the market and demand for phones priced below Rs 5,000. Considering the same, we plan to come out with a feature phones below Rs 5,000 by November this year.”
The company says that it is willing to invest more. Sharma said, “We have already launched four premium models since our entry into smartphone market and we will continue to offer a wide range of phones. We are looking at budget phones and may introduce them following up on these launches.”
Sharma added, “Our phones are targeted at the young generation, which is always on the lookout for better, faster and savvier smartphones on the go. The phones are apt for the always-on- the-go college youth and the premium executive class.”