Toshiba to introduce new products
Toshiba to introduce "exclusive range of home appliances" and mobile phones in the Indian market.india Updated: Jan 25, 2006 14:24 IST
Technology major Toshiba Corporation on Tuesday announced to introduce "exclusive range of home appliances" and mobile phones in the Indian market and are currently "studying the market" in the country.
"We have decided to enter into Indian market in various sectors and are currently studying the requirements of typical Indian households," Managing Director Toshiba India Pvt Ltd (TIPL) Itaru Ishibashi told reporters on Tuesday.
On the timeframe about launching products such as refrigerators, washing machine, kitchen equipments and mobile phones in the Indian market, he said: "once our studies are over, we will think on the launch... May be after Diwali we will decide on when to launch the products."
About their plans to start manufacturing facilities in India, Ishibashi said: "We have a manufacturing facility in Thailand... Initially we will source products from there but may set up a unit here depending on the market."
When asked whether the products that are to be launched in India would be high-end or low-end, he said: "we do not have low-end products. But which products would be introduced will depend on the feedback we get through market survey."
The company would spend a few million dollars this year on its brand building.
The company, besides strengthening its position in the market here, also intends to cater to neighbouring countries such as Bhutan, Nepal and Sri Lanka, he said.
TIPL, which already has presence in the Indian software and hardware sector, had done business worth $10 million in last nine months (April-December) and is expected to grow by 15 per cent this year.
"About 50 per cent of Toshiba Corp business is through overseas and we intend to have 50 per cent market share in the countries' we operate," Ishibashi said.
The company was in talks with few Indian companies for partnerships in order to strengthen its distribution network here. "But nothing has been finalised as yet," he said.
About other sectors, the company plans to venture into the country are power and infrastructure. "We seek to work with Indian government in its projects related to power and infrastructure," he added.
First Published: Jan 24, 2006 17:03 IST