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Panasonic aims robust growth in India

Home Appliances & Consumer Electronics major Panasonic India today said it was aiming for a robust growth in the current year, riding on growing 4G handset market and upcoming festive season.

By: | Kolkata | Published: September 20, 2016 5:43 PM
Panasonic was also optimistic about the festive season sales and it proposes to spend Rs 85 crore in promotions. (Reuters)

Panasonic was also optimistic about the festive season sales and it proposes to spend Rs 85 crore in promotions. (Reuters)

Home Appliances & Consumer Electronics major Panasonic India today said it was aiming for a robust growth in the current year, riding on growing 4G handset market and upcoming festive season.

The company is expecting its mobiles handsets category to grow by about 40 per cent in sales on the back of expanding market of 4G handsets.

“We are aiming at 20 per cent growth for consumer durables in 2016 from last year’s business of Rs 4,000 crore, while our mobile phone is expected to do a turnover of Rs 2,500 crore this year compared to Rs 1,800 crore last year,” Panasonic India President and CEO Manish Sharma said while announcing its festive promotion in the city.

While its electrical division Anchor was expected to grow around 10 per cent to Rs 2,500 crore from Rs 2,200 crore, the total Panasonic India revenue in 2015 was Rs 8,700 crore.

Speaking on mobile handsets, Sharma said some six new models will be introduced in the price band of Rs 8,000-15,000.

“We will focus in the price band of Rs 8,000-15,000,” Sharma said.

Panasonic was also optimistic about the festive season sales and it proposes to spend Rs 85 crore in promotions.

The company does not have any fresh capex in the near future, he said.

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