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Panasonic aims to double sales

business Updated: May 15, 2012 21:46 IST
HT Correspondent
HT Correspondent
Hindustan Times
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Japanese technology major Panasonic is betting on the flat-panel television market to drive its aggressive sales plan over the next year.

The company has set an ambitious target to double its revenues to $2 billion (around Rs. 10,000 crore) by the end of the current fiscal year. The company's revenues stood at Rs. 5,500 crore during 2011-12.

"Flat panel TVs bring in over 40% of our revenue," said Manish Sharma, managing director, consumer products, Panasonic India, while launching new range of smart television portfolio, Viera.

"The segment is one of the largest growth drivers where we plan to notch up 15% market share by the year end against the current 8.3%. We have identified three business verticals."

The first comprises consumer durables with LCD, plasma televisions, refrigerators and air conditioners followed by the camera segment and accessories for audio-visual products.

Panasonic plans to start production from its upcoming manufacturing facility at Jhajjar, in Haryana, by the year end.

In talks with Sony for OLED TVs
Sony and Panasonic Corp are in talks to develop the technology to mass produce next-generation OLED televisions, sources said on Tuesday. Sony makes OLED screens costing as much as $26,000 for high-end customers.

Tokyo/Reuters