Panasonic India eyes turnover of Rs 1,200 crore

Eyeing a turnover of Rs 1,200 crore this festive season, electronics major Panasonic India today said it will invest Rs 75 crore on its marketing initiative. "While we are targeting Rs 150 crore turnover this festive season from the eastern region, nationally we plan to clock about Rs 1,200 crore. "We are offering festival bonanza, like assured gifts and hampers, to customers," Panasonic India Managing Director (Consumer Product Division) Manish Sharma told reporters here. For this fiscal, the company aims at increasing the market share to 20 per cent from the present 14 per cent. He said the company would invest Rs 75 crore on the festive campaign, including Rs 25 crore on brand positioning through television. Companies become hopeful of good sales during the festive season which contribute well to the earnings, but the festive configuration, Sharma said, had come down to 35 per cent from the 50-55 per cent three-four years ago.

On whether the company planned to slash prices or offer discounts during the season, Sharma replied in the negative. "It is a difficult year. With rupee depreciation, economic situation, it is difficult to sustain with slashed prices. We have zero per cent finance offers though," he said. He said the company was also not considering hiking price of its products, as it has already done so four times in the past five months. Panasonic India has over 140 exclusive brand shops all over India and 1,187 service centres across the country. PTI RMI MD DKR