Panasonic Aims 10% Market Share In TV Segment
In order to keep up the pace with advanced technologies and stay relevant for the consumers, Panasonic India unveiled its home entertainment line-up of 4K Ultra HD TVs along with the UA7 sound system.
The Japanese brand has launched two models EX750 and EX600.
With this new offering, the company is planning to capture the 10 per cent market share in the 4K TV segment by the end of FY 17-18. Which is currently at 5 per cent in this segment.
Panasonic is also aiming to increase their overall television markets share from 7.5 per cent to 10 per cent by the end of this financial year.
While talking to BW Businessworld, Manish Sharma, President & CEO Panasonic India, said, “We are aiming to sell 22,000 units of 4K TV this financial year and overall one million television sets.
Panasonic sells 96 per cent of their television sets from the offline channel and remaining from the online channel. The newly launched 4K TV will be available offline given the product’s high-end category.
Currently, the company is focusing on the smooth execution of GST which is going to change the entire market. When asked if the prices of televisions will go up post the GST roll out? Sharma replied, “I am slightly unclear as of now if we fundamentally look at the overall rate on the top, we expect a slight bit of price increase may happen. But it also requires a lot of internal analysis and calculation.
He further added, “On the subjects which will give some advantages on the cost side which is still pending. I am expecting this to speed up after the final announcement on the 3rd June, GST council will meet and make the final announcement.”
Post this announcement the company will get a clear picture on the input side. Sharma mentioned,” On the output side, we are reasonably clear that we fall in the category of 28 per cent and there may be a slight increase in price.”
Panasonic is betting on their 4K series to catch up with the Indian customers and industry expectations. Out of every 100 television sets, Panasonic is selling, 3 of them are from the 4K series. The company is planning to double up the sales percentage of their 4K television.
According to Sharma, the current market of 4K television in India is 4.5 per cent in terms of value and approximately 2.5 per cent in terms of quantity. The Indian television market is of 12 million televisions sets.
In the last financial year, Panasonic has witnessed 25 per cent growth in the television sector. In the 40 inches category, the growth was around 42 per cent. The 32 inches category I and below is not growing fast enough in compare to the 40 and 50 inches segment. Television counts for 28 to 30 percent of the total revenue of Panasonic products.
The Ulta HD Tv range is headed by EX750 model available in 65 inches with is priced at Rs 3,10,000. The EX600 series will be available in 55 inch, 49 inch and 43 inch screen sizes process at 1,78,900, Rs 1,41,000 and Rs 78,900 respectively.
