1. Panasonic looks to double mobile revenue to Rs 2,500 crore this year

Panasonic looks to double mobile revenue to Rs 2,500 crore this year

Panasonic India has set an ambitious target of more than doubling its revenue from smartphones this year to Rs 2,500 crore, from Rs 1,200 crore last year.

By: | Ahmedabad | Published: September 7, 2016 7:42 PM
The Japanese electronics major had sold 20 lakh smartphones last year and plans to double the figure by aggressively expanding distribution network and launching more phone models, Panasonic India's mobility division head Pankaj Rana said. (Reuters) The Japanese electronics major had sold 20 lakh smartphones last year and plans to double the figure by aggressively expanding distribution network and launching more phone models, Panasonic India’s mobility division head Pankaj Rana said. (Reuters)

Panasonic India has set an ambitious target of more than doubling its revenue from smartphones this year to Rs 2,500 crore, from Rs 1,200 crore last year.

The Japanese electronics major had sold 20 lakh smartphones last year and plans to double the figure by aggressively expanding distribution network and launching more phone models, Panasonic India’s mobility division head Pankaj Rana said.

“Last year, we had achieved Rs 1,200 crore turnover, by selling around 20 lakh smartphones. Our projected sales target for this year is Rs 2,500 crore, with 40 lakh smartphone sales. We have set a festival season target of Rs 600-700 crore alone,” Rana added.

The Japanese company also plans to almost double its smartphone market share to 6 percent, from 3-4 percent last year.

It is lining up 35-odd models this year as against 22-24 last year. Of this, 14 have already been unveiled and 5-6 new models will be launched during the forthcoming festive season alone, he said, adding that all these models are 4G-enabled.

Rana said Gujarat is one of the leading markets for Panasonic’s mobile business, contributing 10 percent of sales in value terms. He expects this to rise to 12 percent this year.

While Gujarat contributes 6-7 percent of the total smartphone sales in the country, Panasonic enjoys around 10 percent of this market, he claimed.

Panasonic makes smartphones in the range of Rs 4,000 to Rs 15,000.

“To double our sales target, we are expanding our distribution network. Last year, we were operating in 70-80 cities, now we are in over 500 cities,” he said.

Rana feels that the government’s policy reducing mobile sales online has instilled more confidence in the distribution channel.

“We have also added sales promoters, from 2,000 last financial year to 5,000 now, and plan to take it to 6,000-7,000 in coming months. Also, our retail presence has more than trebled to 20,000 outlets now, from 8,000 last year,” he said.

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