Panasonic eyes 65% revenue jump from India in FY12

Japanese consumer durables major Panasonic is targeting a nearly 65% jump in revenue from its India operations in FY12 to Rs 9,000 crore, a top company executive said today.

"We are aiming to achieve 200-billion yen (Rs 9,000 crore) in sales in India by FY12. Going forward, we will certainly continue to make our best efforts in India," Panasonic President Fumio Ohtsubo told reporters here.

The company's head of marketing in India, Manish Sharma, said they will be focusing on product differentiation from competitors, developing India-specific products which cater to domestic needs and communicating in the right way to achieve the targeted Rs 9,000-crore revenues.

"200 billion yen or $2 billion is stiff but definitely achievable," he told PTI.

Panasonic India is currently in the midst of executing a Rs 1,400-crore capex programme, which includes investment in a manufacturing plant at Haryana's Jhajjar which also has a dedicated R&D facility, Sharma said, stressing that products like an air-conditioner and LCD, which were designed for Indian market, have been met with good response.

Panasonic today launched a new range of smart television, VIERA, which has Internet surfing capabilities.

Sharma said Panasonic's TV line, which comprises LCD TVs, high definition TVs and 3D TVs, should account for 15% of the 4.5-million TV set sales by end-FY 12.