Panasonic is aiming for revenues of Rs 12,300 crore in India this fiscal, driven by its refrigerator and TV businesses.
In a recent report PTI has stated that Panasonic’s revenue in the previous financial year was of about Rs 10,500 crore. They expect their B2B business to contribute almost half of its revenues by FY 2020-21 as it is expanding its presence in the segment.
Panasonic India and South Asia President and CEO Manish Sharma told PTI that in the ongoing financial year, they are aiming at Rs 12,300 crore revenue overall whereas last year they had closed around Rs 10,500 crore. This is inclusive of Panasonic’s revenue from its step-down firm Anchor Electricals.
Sharma further informed that they intend to grow for three years with a CAGR of 20 per cent and this year Panasonic is looking for 30 per cent growth in TV. Panasonic also expects its consumer business to be double in the next three years.
In the mobile phone market the company has decided to focus only on the niche segment. He further informed that Panasonic is aiming at Rs 800 crore this year and the strategy in mobile is to focus on niche segment of Rs 9,000 and above.
In the TV segment, the company expects its 4K range of televisions to account for around 25 per cent share of sales this fiscal. This year the company is targeting 1.2 million units of sales which is 11 to 12 per cent of value share. Sharma notified that the market share is currently 9 per cent and next year Panasonic is aiming to achieve around 11 to 12 per cent.