Panasonic eyes 35% growth in air conditioner sales

Consumer electronics major Panasonic India has launched a top-end air conditioner with radiant cooling system and is also looking at 30-35 percent sales growth next fiscal in the overall AC segment.

"We are looking at 30-35 percent growth in our air conditioner sales in the next fiscal helped by a range of innovative products," Panasonic India and South Asia President and Chief Executive Officer Manish Sharma said.

He further said: "We have today launched a top-end air-conditioner 'Sky Series' with 'radiant cooling' technology. We will also offer in-built air purifiers in majority of our ACs at no extra cost." Last year, Panasonic's air conditioner sales grew by 20 percent and contributes 15 percent of total turnover.

Panasonic's air conditioner business is around Rs 1,500 crore.

Panasonic's 'Sky Series' with 'radiant cooling' technology, which claims to cool the room by removing heat from ceilings and walls, will be priced at Rs 70,000 and Rs 85,000 for 1 and 1.5 tonne capacity, respectively.

It is also fitted with an advanced air purification system nanoe-G.