Consumer durable maker Panasonic India said it will invest around Rs 1,400 crore in the next three years to gain about 17 per cent share in 27 lakh domestic air conditioner market.
“Currently, we have around five per cent share in the domestic air conditioner market and by 2012, we are eyeing for 17 per cent share in the domestic market,” Panasonic India Director (operations and planning) Arjun Balakrishnan said in New Delhi.
The company plans to put an investment of around USD 300 million in the next three years to achieve the target.
The company also announced that it has roped in Katrina Kaif as brand ambassador for its home appliance range. It has also announced that it will be introducing a complete new range of air conditioners (ACs) from early next year.
Panasonic is targeting a sale of around 80,000 to one lakh units of ACs in the current financial year and it intend to double the sale of ACs every year to achieve a target of 17 per cent market share by 2012.
“We are also looking at setting up a new manufacturing unit in India for producing home appliances particularly air conditioners,” Balakrishnan said.
However, the decision would depend upon the sales, he said. “Before setting up a unit in India, we must achieve the target of selling around 4.5 lakh units in the country.”