Panasonic eyes Rs 10,800 cr revenues in Indian market

 Japanese electronics giant Panasonic is aiming at Rs 10,800 crore in revenues from its India business for fiscal 2016-17, on the back of a strong consumer-centric and B2B-led strategy.

Last year, Panasonic India logged sales of Rs 8,700 crore, helped by its several businesses — Consumer (Rs 4,000 crore), Anchor (Rs 2,200 crore), Mobiles (Rs 1,800 crore), and B2B, which includes business related to screens, broadcast cameras, and so on, (Rs 700 crore).

Talking to DH, Panasonic Corporation Executive Officer and President and Chief Executive Officer of Panasonic India, Manish Sharma, said, “Between April and September this year, we have grown 30%, more than the industry’s 10% growth. We plan to end this year with revenues of over Rs 10,800 crore, ending at a growth of over 20%.”

The said growth will see a significant spurt in all businesses — Consumer will grow to Rs 4,800 crore, Anchor (Rs 2,500 crore), Mobiles (Rs 2,500 crore), and B2B (Rs 1,000 crore).

“Our strategy remains consumer-centric, and our India office conducts market research on customer behaviour and aspirations, to drive products in that direction. We are also working on creating solutions for our B2B vertical, especially in the realm of energy storage, and security and surveillance in the homeland and enterprise segments,” Sharma said. With regard to the consumer business, Panasonic is bullish on different products. Recently, it launched the Shinobi Pro LED TV series, which is claimed to have superior audio quality, suiting Indian needs.

The company is also bolstering its position in the mobile space. “In terms of mobile phones, our focus has always been to provide more value, in the form of durability and reliability; and applications, in the form of a unique user-interface, to customers at affordable prices. Our phones are positioned in the value-for-money segment, with our most expensive phone Eluga Note priced at Rs 15,990. In January, next year, we will be rolling out a phone priced Rs 19,990, which will become our flagship model,” he said.