Panasonic plans to start export of smartphone to overseas markets, expects Rs 2000 crore revenue
Panasonic Corporation expects a nearly 50% year-on-year jump in revenue from smartphone sales in India in 2017-18 and plans to start export of its devices to markets in South Asia, West Asia and Africa in the next five months.
The Indian unit of the Japanese electronics manufacturer is aiming to generate revenue of Rs 2,000 crore by selling three million smartphone units, up from Rs 1,340 crore by selling two million units in the previous fiscal, said Pankaj Rana, business head-mobility division at Panasonic India.
“Following November last year (when the government withdrew Rs 500 and Rs 1,000 currency notes as legal tender), it was difficult for us as well as the industry. It took everyone three months to reach normal stage,” Rana told ET.
This year, the company will launch at least 15 smartphones, priced at Rs 6,000-20,000, he said.
The company makes in India all the smartphones that it sells in the country, through its manufacturing partner Dixon, which has dedicated eight assembly lines with a monthly capacity of up to three lakh phones for the handset brand.
The handset maker plans to tap into markets in South Asia, West Asia and Africa. “Our plan is to sell a lakh units per month in these markets,” Rana said.
Panasonic is planning to invest Rs 150 crore in marketing to strengthen its brand appeal in India, with a special focus on the online channel, which contributed 10% to sales last year.
“This year, we plan to sell 30% handsets from online channel in India. There will be dedicated devices for online, priced above Rs 10,000,” Rana said.
Panasonic, which had earlier planned to acquire companies to build artificial intelligence (AI) technology and Internet of Things (IoT) products, has changed its strategy and plans to do so in-house.
“After discussion with partners, we decided on doing in-house development. We will not acquire any company, rather work with partner to develop this technology further on our own,” Rana said.
The Indian unit of the Japanese electronics manufacturer is aiming to generate revenue of Rs 2,000 crore by selling three million smartphone units, up from Rs 1,340 crore by selling two million units in the previous fiscal, said Pankaj Rana, business head-mobility division at Panasonic India.
“Following November last year (when the government withdrew Rs 500 and Rs 1,000 currency notes as legal tender), it was difficult for us as well as the industry. It took everyone three months to reach normal stage,” Rana told ET.
This year, the company will launch at least 15 smartphones, priced at Rs 6,000-20,000, he said.
The company makes in India all the smartphones that it sells in the country, through its manufacturing partner Dixon, which has dedicated eight assembly lines with a monthly capacity of up to three lakh phones for the handset brand.
The handset maker plans to tap into markets in South Asia, West Asia and Africa. “Our plan is to sell a lakh units per month in these markets,” Rana said.
Panasonic is planning to invest Rs 150 crore in marketing to strengthen its brand appeal in India, with a special focus on the online channel, which contributed 10% to sales last year.
“This year, we plan to sell 30% handsets from online channel in India. There will be dedicated devices for online, priced above Rs 10,000,” Rana said.
Panasonic, which had earlier planned to acquire companies to build artificial intelligence (AI) technology and Internet of Things (IoT) products, has changed its strategy and plans to do so in-house.
“After discussion with partners, we decided on doing in-house development. We will not acquire any company, rather work with partner to develop this technology further on our own,” Rana said.
