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Panasonic aims to triple revenues

The Japanese technology major Panasonic is betting on product customisation aimed at the mass market to drive its aggressive sales plan over the next two years. Vivek Sinha reports.

business Updated: Apr 08, 2011 22:57 IST
Vivek Sinha

The Japanese technology major Panasonic is betting on product customisation aimed at the mass market to drive its aggressive sales plan over the next two years.

The company has set an ambitious target to triple its revenues to around R9,000 crore by the end of next financial year. The revenues stood at R3,200 crore for the fiscal 2010-11.

The new found aggressiveness of Panasonic India marks a sea change in the company’s attitude where it seems keen to regain its leadership position in consumer durables and other technology products.

During 2001 to 2008 the company saw its sales dipped and it conceded marketshare to Samsung, LG and Sony.

“It was during these times that globally there was a major technological shift across product categories and Indian market was relatively smaller. Globally the company chose to focus on other developed markets instead,” said Manish Sharma, director-marketing, Pansonic India.

“The company will tweak its products to meet the specific requirements of Indian consumers. We are exploring opportunities in the mass segment especially in the tier-II and tier-III cities.”.

Panasonic has identified three business verticals to drive sales growth. The first comprises consumer durables with LCD and plasma televisions, ACs, refrigerators, the second camera and office automation products while the third would be accessories for audio-visual products.