Japanese electronics maker Panasonic will invest $300 million in the next three years to ramp up its production facilities in the country and to set up a new manufacturing unit. The company is also targeting revenues of Rs 4,500 crore by March 2010 from the present Rs 2,200 crore through a slew of launches and capacity expansions.

Manish Sharma, marketing head at Panasonic India said "For our consumer products, we are expecting to double our revenue from Rs. 750 crore to Rs 1,500 with at least 23 new product launches in 2009. We have about 18% market share in the Plasma TV segment, which we expect to substantially increase by end of this year."

Sabina Kidwai, general manager, marketing at Panasonic India said "We will expand our TV manufacturing facility in Noida, and for other products such as air conditioners and refrigerators, we plan to set up a manufacturing facility in either Chennai or Haryana by 2010-end."

The company is contemplating increasing its capacity of color televisions at the Noida factory to 1 million units from 600,000 units and LCD to 900,000 units from 350,000 units by May.

Panasonic also said that it will combine its six separately run firms, which include Panasonic Home Appliances and Panasonic Battery, into one entity in a bid to cut costs and gain on synergies.

Related News:
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Different entities of Panasonic to become one in India
Panasonic increases its line of VIERA Plasma HDTVs
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Posted by Amrith K.A on 9 April, 2009 5:40:51 PM IST #