Consumer electronics major Panasonic is aiming to have 10 per cent market share in the TV panel segment by the end of this year.
Consumer electronics major Panasonic is aiming to have 10 per cent market share in the TV panel segment by the end of this year. The company, which today strengthened its high-resolution 4K TV lineup by adding EX 750 Series and EX 600 Series, is also aiming to have similar 10 per cent share in this segment. “In TV segment, we have around 7.5 to 8 percent market share and in 4K we are at around 5 percent. This year we are looking at 10 per cent market share out of total television category and in 4K also,” Panasonic India and South Asia President and CEO Manish Sharma said.
At present, the 4K panel segment contributes around 3 per cent of Panasonic’s total sales in domestic market.
“Out of 100 TV sets, we are selling around 3 4K sets. Our intention is to sell around 6 or 7 4K sets out of 100,” he said, adding that “which means that so far we are not doing enough in the 4K category.” The 4K market is around 4.5 – 5 percent of the total TV market in terms of value and 2 – 2.5 percent in terms of volume. The Indian TV market is around 12 million sets and is growing by over 17 percent.
On being asked as of how Panasonic would create space in the segment, which has become very competitive, Sharma said: “This range will help us to catch up the Indian customers and with the industry expectations because of our market share in 4K only 5 per cent.” Even in the normal panel segment, Panasonic like other makers is also witnessing a high double-digit growth in 40- inch and above segment in comparison to 32 inches and below.
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“40-inch segment is growing quite exponentially. Last year, we had 25 per cent plus growth in TVs last year, and in 40-inch category, we had around 42 to 43 percent growth,” said Sharma. Panasonic is manufacturing its TV panel range at its Noida plant. “We are already manufacturing some of them. I would not that say all of them but probably we have manufactured half of million televisions in the country already which is around 75 -80 percent (of its sales),” he said, adding that rest are imported from Malaysia or Japan.