Panasonic aims to capture at least five per cent share in India’s burgeoning mobile phone market in the next three years as it strengthens the product portfolio, a top company official said to ET.
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The Japanese tech giant expects to register 25 per cent growth in the current fiscal and clock a turnover of Rs 12,000 crore, of which around 12 per cent would come from the handset business.
“We have around two per cent share of the mobile segment and our intention is to have around five per cent 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 per cent 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 per cent of the Indian revenue. This would continue to grow higher and in next three years, we are looking at 25 per cent of revenue contribution coming from this segment,” Sharma said on the sidelines of a CEAMA event.
Asked about 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