Panasonic eyes Rs 5,500 crore turnover from consumer products

Panasonic eyes Rs 5,500 crore turnover from consumer products Kochi: Panasonic India expects a turnover of Rs 5,500 crore from its consumer products division this year, as it is launching several localised products for Indian consumers, a top company official said on Thursday.

The division had netted a turnover of Rs 3,300 crore last year, Consumer Product Division Managing Director Manish Sharma told reporters here.

This year was a very 'strategic' year for Panasonic and the company was coming out with many localised products for Indian consumers, he said.

Rupee devaluation was a major concern, he said adding the company increased prices by 12 per cent in the last 12 months.

In Kerala, the company is looking at Rs 220 crore turnover in 2012 and Rs 150 crore during next month's Onam festival season against last year's turnover of Rs 75 crore during the festival period, he said.

Kerala contributes three per cent of the company's annual sales and it wanted to capture 15 per cent market share in the state, he said.

He said Onam kicks off the festival season and is the 'litmus test'. Diwali season contributes 30 per cent of sales and Durga Pooja about four per cent for panasonic. Currently Panasonic has five branded shops in the state and plans to add three more during the festival season in Kerala.

Panasonic offers a wide range of consumer electronics and home appliances like LCD and Plasma TVs, DVD players, home theatre systems.

PTI