Philips eyes Rs 1,000 crore turnover

Philips India Ltd on Sunday unveiled its strategy for consumer electronics for 2004.

S Nagarajan, head, sales and service, consumer electronics, Philips India, said, "The last 18 months have been very interesting for Philips India. We posted a turnover of Rs 700 crore in the previous year and are aiming to touch the Rs 1000-crore mark this year."

"Gujarat is a very important market for us. We have received positive response so far and we are very keen to leverage the goodwill we have built among our dealers and consumers. We also intend to improve our physical reach and distribution network in the region," Nagarajan said.

Nagarajan said, "The consumer electronics division of Philips India has seen high volume growth and identified four growth engines to take forward its strategy for Gujarat. The DVD Hi Fi range is the first driver of growth. The second is the value-for-money Vardaan range of CTVs and the third is the Philips DVD players range. The fourth is the home theatre systems."

Vijay Gosavi, branch manager, Ahmedabad, consumer electronics, said, "We have introduced various new products. Our product portfolio offers a wide range to the consumers. We are offering products to consumers with easy finance options, for which we have tied up with leading financial institutions."

"We have world-class products, competitively priced and available with easy finance schemes. We have achieved a good success in other cities and extremely confident that the schemes will be a huge success in Surat as well as in other cities of Gujarat," Gosavi said.