Hitachi eyes 10% of LCD TV market

Electronics major Hitachi Home Electronics Asia (HHES) today announced that it would increase focus on the Indian high-end flat panel display market, as part of its growth strategy.

The company plans to focus on tapping the high-end market and expand to tier-II cities.

"We plan to capture 10 per cent of the liquid crystal display (LCD) and 20 per cent of the plasma market with the focus on high-end market," Tarun Jain, country head, HHES, told reporters here.

Briefing about Hitachi's future plans, Jain said, "We plan to move to tier-II cities in a focused manner and target 35 per cent increase in our retail outlets, 65 per cent growth in the number of Hitachi exclusive galleries "" Hitachi Experience Zone "" and 35 per cent expansion in the service network".

Jain further said that to strengthen the company's existing service network, it was planning to set up a Hitachi-owned service centre in the coming months.

The company currently has a 4 per cent market share in LCD TV and 18 per cent market share in plasma TV. Hitachi will launch its ultra thin LCD series in the country by first quarter of 2008.

The company will also add a 60 inch plasma television to its portfolio in India by end of the year. It is also planning to unveil a 19mm slim LCD by 2009.

"We are bringing the world's slimmest LCD television to Indian consumers. As a group, Hitachi will serve the high-end LCD market with its Ultra Thin series," said Tadashi Nishiuchi, MD, HHES.

The Hitachi Ultra Thin LCD Series is said to be 70 per cent thinner than the existing LCD TVs and will be available in 32, 37- and 42-inch categories.