Sanyo chief has faith in BPL JV

Sanyo chairperson Tomoyo Nonaka, who is on a visit to India, has reposed faith in the firm's Indian operations.

The global corporation which is going through a turmoil, has an equal joint venture with the Bangalore-based BPL Group for colour televisions, besides a wholly owned arm for industrial products.

According to the company sources in Sanyo-BPL joint venture, Nonanka expressed faith in the partnership and encouraged the personnel to achieve more.

"The CTV business is doing okay. It is a struggle against the competition in the Indian market. We had expected to have a market share of 6 per cent in the 10 million CTV market in India, but we might end up at 5 per cent," said a source in the company.

Sanyo-BPL is working towards a topline of Rs 300 crore in the next couple of years.