India Inc India Inc: Monday, 13 November 2017 06:23

Panasonic India eyes bigger share of mobile market

Japanese tech giant Panasonic aims to capture at least a 5 per cent share in India's growing mobile phone market in the next three years as it strengthens the product portfolio.

The company expects to register 25 per cent growth in the current fiscal and achieve a turnover of Rs 12,000 crore ($1.85 billion), of which around 12 per cent would come from the handset business.

Manish Sharma, President and CEO, Panasonic India and South Asia, said: "We have around two per cent share of the mobile segment and our intention is to have around five per cent market share in the next three years.”

The company is targeting the mid-segment in the handset market, which covers handsets priced in the range of Rs 8,000-15,000 ($120-$230).

The contribution of the mobile handset business in the next three years is expected to more than double to 25 per cent as the segment is expanding at a fast pace.

India Investment Journal’ has in-depth coverage on related topics.

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