Philips India eyes Rs 90cr sales from TN

Philips India Limited (PIL) is eyeing a turnover of Rs 90 crore from Tamil Nadu by December 2004. This will be a 40 per cent increase from the Rs 48 crore that it achieved in the last calendar year.

"We are upbeat about Tamil Nadu as the Philips' brand has been well received here. Tamil Nadu contributes to more than 11 per cent of Philips India's total revenues," said R Swaminathan, senior manager (consumer electronics), PIL.

Almost 70 per cent of the revenue in Tamil Nadu is expected to come from DVD and colour television (CTV) sales which have displayed a buoyant growth in the past nine months.

PIL is also launching a special promotion campaign for the festival season between October 14 and November 14 called 'Chota Daam Bada Inaam' and will promote it through a total spend of Rs 20 crore between October and December all over the country.

"Our prices on DVDs, CTVs, home theatre systems and VCDs have been reduced between 15 and 30 per cent. We are also giving away gifts along with all purchases which will be worth as much as Rs 2,200," said Suresh Sukumaran, business head (televisions and consumer electronics), PIL.

PIL, which holds a market share of nearly 90 per cent of the branded home theatre systems (HTS), is hoping that the growth in HTS this year will be as high as the growth in the DVD market last year.

"The DVD market is growing at 250 per cent quarter-on-quarter. We expect to see a similar growth in the HTS market as they become more affordable," Sukumaran added.

PIL is trying to lure consumers with a slew of offers which include attractive finance options with low down payments and zero per cent interest schemes.