Panasonic Plans to Revamp its Smartphones market in India
Consumer durables major Panasonic eyes a 5 per cent market share this FY by launching mid-premium phones ranging from Rs 20,000-30,000
Japan-based appliances brand, Panasonic is planning to launch an all-new range of smartphones in the 20,000-30,000-price range to boost its presence in this segment. Its existing set of smartphones carry a price between Rs 7,000 and Rs 16,000 and these have not been able to reach the desired sales.
Manish Sharma, President and CEO, Panasonic India, informed about the company’s 5 per cent market share target by the end of this financial year. Around Rs1,200 crores are expected to be drawn from the smartphones segment. The company is reworking on its smartphones to expand its footprint in the Indian market.
SKD to CKD
He also mentioned the company’s plan to go for a completely knocked down (CKD) manufacturing instead of semi-knocked down (SKD) manufacturing, which means that Panasonic will be shipping certain parts to India where it will assemble to form the product. The India Panasonic head said that the work would start from November and they would launch around 7-8 smartphone models in India.
It recently launched its AI-enabled Eluga X1 and X1 smartphones in India. Priced at Rs. 22,990 and 26,990 respectively, these smartphone models are aimed to elevate user experience.