Panasonic aims to capture at least five percent share in India’s burgeoning mobile phone market in the next three years as it strengthens the product portfolio, a top company official said.
The Japanese tech giant expects to register 25 percent growth in the current fiscal and clock a turnover of Rs 12,000 crore, of which around 12 percent would come from the handset business.
“We have around two percent share of the mobile segment and our intention is to have around five percent market share in the next three years,” Panasonic India and South Asia President and CEO Manish Sharma told. The company is targeting the mid-segment in the handset market, i.e handsets priced in the range of Rs 8,000-15,000, he added.
Sharma said in the next three years, the contribution of the mobile handset business would more than double to 25 percent as the segment is expanding at a fast pace.
“It’s (phone business) still small and at the close of this year, it would be 12 percent of the Indian revenue. This would continue to grow higher and in next three years, we are looking at 25 percent of revenue contribution coming from this segment,” Sharma said on the sidelines of a CEAMA event.
Asked about the expansion of its product portfolio, Sharma said: “A major transition is happening and not only the product portfolio but positioning and offerings are also witnessing a great change.”
Recently, Panasonic introduced around 11 SKUs in one go, he said adding that on January, 6-7, new models will be introduced.