Corporate
Panasonic India to invest $300 mn in 3 years
Consumer durable maker Panasonic India today said it will invest around Rs 1,400 crore in the next three years to gain about 17 per cent share in 27 lakh domestic air conditioner market. - PE companies resort to salary freeze as investments tank - ABC Paper shelves plan to set up new plant - Reaction from double top - GVK Power buys L&T"s 17 per cent BIAL stake - L&T, EADS may send revised JV proposal to FIPB - CIL to seek legal opinion on reserving stocks for employees "Currently, we have around 5 per cent share in the domestic air conditioner market and by 2012, we are eyeing for 17 per cent share in the domestic market," Panasonic India Director (operations and planning) Arjun Balakrishnan told reporters here. The company plans to put an investment of around $300 million in the next three years to achieve the target. The company also announced that it has roped in Katrina Kaif as brand ambassador for its home appliance range. It has also announced that it will be introducing a complete new range of air conditioners (ACs) from early next year. Panasonic is targeting a sale of around 80,000 to 1 lakh units of ACs in the current financial year and it intend to double the sale of ACs every year to achieve a target of 17 per cent market share by 2012. "We are also looking at setting up a new manufacturing unit in India for producing home appliances particularly air conditioners," Balakrishnan said. However, the decision would depend upon the sales, he said. "Before setting up a unit in India, we must achieve the target of selling around 4.5 lakh units in the country." Speaking about the company"s plan in India, Balakrishnan said the company would invest around 5 per cent of its total turnover of Rs 4,500 crore in marketing and promotions. In terms of manpower, he said the company has a marketing team of 210 person which it would double the next year. Panasonic is also setting a large showroom in Gurgaon as "Panasoni Experience Centre" to showcase the upcoming high- tech products from its portfolio. "We plan to set up similar experience centre in all metro cities in the country and second would come up in Gurgaon," he said.Paydaynextday commented:
This investment will bring good changes with them and they will be having the good results with this
07.09.2011
Payday cash loans commented:
Such investment will be really good. Hoping it will be done soon.Thanks for such post.
08.11.2011
Next day loans commented:
Such investment is really good and I am waiting for such thing in effect as it can give hike in growth of nation and public too.Thanks for such post.
12.11.2011
Wealth Transfer Asia commented:
Actually panasonic has it in mind that there is huge chance of growth in inda and the market of the electric durable things will expand very much.
15.12.2011
Goa Escorts Services commented:
Its a good rule being implemented. But it’ll definitely take time.
03.01.2012