Chennai: Consumer durables major Panasonic has lined up Rs 120 crore investments during this financial year, aiming to garner a 20 percent market share in the split air-conditioner segment.
In 2008, Panasonic had less than one percent market share and it soared to six percent in 2010. Currently, the market share stands at 15 percent in the air-conditioners segment.
"In addition to its existing line up and growth achieved till now, Panasonic plans to invest Rs 120 crore in financial year 2013 in the split air-conditioner segment and aims to capture around 20 percent of market share by end of this fiscal", Panasonic India said in a statement.
Panasonic India has been witnessing a 80 to 100 percent growth in the split air-conditioners segment and has been ranked number one in Gujarat, Maharashtra, Tamil Nadu and Rajasthan, it said.
The company said since its launch of air-conditioners in 2008, it had registered one million sales in the country.