Consumer electronics major Panasonic is aiming to have 10 per cent market share in the TV panel segment by the end of this year.
According to a PTI report: The company, which on Monday strengthened its high resolution 4K TV lineup by adding EX 750 Series and EX 600 Series, is also aiming to have similar 10 per cent share in this segment.
“In TV segment, we have around 7.5 to 8 per cent market share and in 4K we are at around 5 per cent. This year we are looking at 10 per cent market share out of total television category and in 4K also,” President and CEO, Panasonic India and South Asia, Manish Sharma was quoted by PTI as saying.
At present, the 4K panel segment contributes around 3 per cent of Panasonic’s total sales in domestic market.
“Out of 100 TV sets, we are selling around 3 4K sets. Our intention is to sell around 6 or 7 4K sets out of 100,” he was quoted by PTI as saying, adding that “which means that so far we are not doing enough in the 4K category.”
The 4K market is around 4.5-5 per cent of the total TV market in terms of value and 2-2.5 per cent in terms of volume.
The Indian TV market is around 12 million sets and is growing by over 17 per cent.
On being asked as how Panasonic would create space in the segment, which has become very competitive, Sharma was quoted by PTI as saying: “This range will help us to catch up the Indian customers and with the industry expectations because our market share in 4K only 5 per cent.”
Even in the normal panel segment, Panasonic like other makers is also witnessing a high double digit growth in 40- inch and above segment in comparison to 32 inches and below.
“40-inch segment is growing quite exponentially. Last year, we had 25 per cent plus growth in TVs last year, and in 40-inch category, we had around 42 to 43 per cent growth,” said Sharma.
Panasonic is manufacturing its TV panel range at its Noida plant.
“We are already manufacturing some of them. I would not that say all of them but probably we have manufactured half of million televisions in the country already which is around 75 -80 per cent (of its sales),” he told PTI, adding that rest are imported from Malaysia or Japan.