Panasonic eyes $3.66 b by FY '16

Panasonic India on Thursday said that the company plans to clock revenues of $3.66 billion by the end of 2015-16, a jump of 182 per cent from $1.3 billion it reported in 2012-13.

Panasonic India Managing Director Manish Sharma said that India has been identified as the centerpiece of future by the global headquarters.

“While the Indian arm will continue driving growth through its B2C business there will be a renewed focus on the B2B and B2G business. The key strategy for fueling even more aggressive growth in India is: to accelerate new product developments; reform the business structure through local production & consumption; and pursue autonomous management,” Sharma said.

The company also said it will invest of Rs 1,500 crore towards expansion in the next three years in order of Rs 450 crore, Rs 500 crore and Rs 550 core.

In Karnataka, Panasonic has 9.2 per cent market share in consumer electronics and Panasonic India Regional Manager for Karnataka & Kerala (Consumer Electronic Division Sales) Manoj N G said that the company estimates its market share to climb to 12 per cent this fiscal.

“After receiving an overwhelming response from the consumers of the state for our wide range of products, Karnataka alone contributes to 8 per cent of total Panasonic revenue,” Manoj said.