Consumer durables firm Panasonic today said it will enhance its infrastructure and production capacity, besides increasing its marketing activities, as it aims to double sales to Rs 5,000 crore by 2012.
The company said it is planning to set up a new facility by 2012 for manufacturing its various products with a focus on bringing out India-specific offers.
"Our aim is to double our turnover to Rs 5,000 crore by 2012. So within the next two three years, we will utilise the period in enhancing our infrastructure and facilities, " Panasonic India Director (Operations and Planning) Arjun Balakrishnan said.
He said there has been a "remarkable" shift in terms of the company's strategy towards bringing out localise products that will suit the customers of the region.
The company is in the process of setting up its second plant by 2012, which will initially make air conditioners and later on start manufacturing other products as well. At present, the company assembles most of its products at its Noida plant.
"We plan to set up a Panasonic Technopark where we will make our products. This is part of our strategy to localise research and development activities and emphasise on local management," Panasonic Corporation President Funio Ohtusubo said.
The company, however, did not disclose the kind of investment it is putting on setting up plant. It had earlier announced that it has earmarked an investment of USD 300 million for three years period from 2009 till 2012 on various activities including setting up its new plant.
The company, which today launched its 3D television in India, said home appliances and LCD television will be focus categories to drive growth of the company.
"Our home appliances, including air conditioners and audio visual range, including the LCDs will the focus areas of the company for years to come," Balakrishnan said.
He said the company will also further increase its marketing campaigns and associate more with sports including cricket and football in the next one year.
"In the last one and half year, there has been an increase in focus on the Indian market in terms of its brand building activities. We will continue to do so and associate ourselves more with sports in future," he said.
