The Japanese electronics brand is aiming for a larger market share in the mobile space from the last couple of years. After coming back in the mobile phones business in 2012, the Japan tech giant is putting India among top favourites.
In order to consolidate their presence in the Indian mobile market, It has launched their virtual assistant equipped Eluga A3 and A3 Pro priced at Rs. 11,290 and Rs. 12,790 respectively.
“Last year majority of Panasonic products are assembled in India only with few exceptions. More than 90 per cent of mobile phones that we sell in India are assembled in India.” said, Manish Sharma, President & CEO, India and South Asia, Panasonic.
Panasonic is not doing the PCB level insertion in India but getting the assembled PCB from their respective domains and then bringing them separately for assembling in the country.
In total Panasonic is planning to sell three million phones in India till March 2018. The company is also positive about their mobile phone range and expecting Rs 16 billion of revenue from the mobile phone division by the end of the financial year 2017-18. In total Panasonic is eyeing to reach Rs 110 billion of revenue in India from all their products range. Last year Panasonic’s total revenue was Rs 96 billion from all their offerings and Rs 14 billion for their mobile business.
Talking to Electronics Bazaar, Sharma added, “Our Business plan is to reach the Rs 1600 crore mark, but with the growth and marketing buzz we are going to create we might cross the mark.”
Make in India boost
The company is planning 100 per cent manufacturing in India post-2018. This decision will give a much-needed boost to the electronics industry in India.
When asked, how costs of different products are going to reduced post-manufacturing in India. He replied “This depends on the policy of the government. The government of India is in a situation of policy where assembling has some advantage against if we have brought some CBU products from any other country. If the duty structure is changed and if we can get assembled phones or we can do PCB in India it will become cheaper.”
Electronic body CEMA is in regular dialogue with the government to make some changes in the policy which suits the mobile makers. The mobile manufacturers are getting a positive response and feel that Indian government objectives are to create employment. All the policy intervention that is happening is encouraging assembling in India.
In the time to come, they will more liberalise the policy to make sure more reverse integration is happening in manufacturing to create more job opportunities
By Abid Hasan