Double budget and double targets for Panasonic India this year

By the end of this fiscal, Panasonic India wants to increase its mobile phone revenue to more than double of what it is. The figure that they are aiming is estimated to be Rs 2,500 crore. The Japanese company also aims to double its market share, relying on aggressive 4G launch plans, backed by higher marketing spending. The confidence stems from the revenue growth it had in the last fiscal, increasing from Rs 600 crores in 2014-15 to Rs 1200 crores.

"The mobile division contributed 15% towards overall India revenue, which we want to take to 25% by the end of the ongoing fiscal," Pankaj Rana, business head - mobility division, Panasonic India, told ET.

As per the plans, the company plans to launch eight new smartphones in the next one and a half month, out of which seven would be 4G VoLTE smartphones.

As of now, its portfolio includes ten smartphones (seven of them being 4G-enabled), ranging from Rs 5,000 to Rs 14,000.

In the coming year, one can expect 30-35 new smartphones from Panasonic India, which would be priced between Rs 4,000 and Rs 20,000. Talking about marketing spending, Panasonic aims to spend about Rs 220 crore on marketing, out of which almost a fifth would be used for digital marketing. This figure is also almost doubled from last year’s Rs 120 crore.

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