New Delhi: Electronics and appliances maker Panasonic India on Thursday said its system sales division looks to nearly double sales in the country to over Rs 650 crore in the current fiscal.
The company's System Sales Division (SSD), which markets products like telephones, projectors and fax machines, posted sales of around Rs 330 crore in the previous financial year.
"With a wide product portfolio the year-on-year average growth rate for Panasonic's system sales division has been 40 percent. We are expecting this growth to cross 100 percent by this fiscal and close with a turnover of Rs 655 crore," Panasonic India System Sales Division MD Toru Hasegawa told reporters here.
He added the division would contribute up to 10 percent to the company's total revenues the current fiscal.
"We are trying to increase our contribution to 7-10 percent in the company's business in India, from 5 percent last fiscal," Hasegawa said.
SSD today expanded its portfolio by launching high definition video conferencing (HDVC) for enterprises as a step towards strengthening its B2B business.
When asked if the division would start manufacturing products in the country, SSD Director Rizhkant Zha said the company might look at manufacturing in the country by 2015.
SSD currently imports all products from various countries including Japan and Malaysia.
Panasonic India, which employs more than 12,000 people in the country, posted sales of nearly Rs 10,000 crore in FY'12. It has primarily four divisions including SSD and consumer products division which markets various products including televisions, refrigerators and washing machines.
First Published: Thursday, August 23, 2012, 18:41