 "Japanese company Pioneer eyes car entertainment segment in UP")
Japanese entertainment solutions provider Pioneer is looking to expand its footprint in the burgeoning Uttar Pradesh market, especially the car entertainment segment.
The company is planning to increase its dealership network in the state and maintain its growth trajectory of about 20 per cent going forward, Pioneer India Electronics managing director Minoru Ogawa said here on Friday.
Pioneer India is the wholly owned subsidiary of Japan-based Pioneer Corporation, which sells car, DJ and home entertainment products worldwide.
Car entertainment alone contributes roughly 80 per cent to the company's business.
"UP is an important market for us and we see a huge potential of growth with regards to in-car entertainment, especially in the tier II and III towns," Pioneer India sales head Manvir Ahuja said.
Pioneer is the market leader and commands market share of over 35 per cent in the retail car entertainment products space in India, he informed.
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Besides, the company supplies to the various car manufacturers for the pre-fitted car entertainment systems.
The company currently imports its products from its offshore plants to hawk in India.
Pioneer is not averse to launching its production facility in India and is under the process of conducting due diligence to study all related aspects, including taxation and domestic market demand, before arriving at a decision, Ahuja added.