Aiming to enhance its position in the Indian LCD television market, Japanese firm Panasonic has kicked off a price war, bringing its latest 32 inch model at a price cheaper by about Rs 6,000 than those of rivals.
The company, which is targeting sales of Rs 3,000 crore this year, is expecting that 25 per cent of its sales will come from its newly launched 32 inch LCD model '32C22', priced at Rs 24,000, about 20 per cent less than those of its competitors in same category.
"In volume sales, we expect to increase our share from 7 per cent to 10 per cent by November this year," Panasonic India Director Marketing Manish Sharma told PTI.
The company had a revenue of Rs 2,200 crore last year.
The Indian flat panel television market is estimated to be around 3.6 million units annually. Dominant players include by Korean majors Samsung and LG, and Japan's Sony.
"Panasonic 32C22 is affordable and eco-friendly. It has been specially made for India. The price of it is 20 per cent less what is currently available in the market. Normally, a 32 inch LCD cost around Rs 29,000 to Rs 30,000," he said.
In order to push sales of the newly launched 32 inch LCD TV, Panasonic is taking up a brand awareness campaign 'Sound for India' targeting tier II and tier III cities.
The campaign, which will cover 70 cities across the country till 10 September 2010 by a caravan, will also promote local talents in music.
The $79 billion Japanese firm sells home appliances range, washing machines, refrigerators and air conditioners in India besides television.
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