Japanese consumer electronics firm Panasonic is working to offer solutions to business enterprises in India to expand its presence in the country beyond offering consumer products.
The company has identified offering solutions in mobility, energy storage and security and surveillance as key areas for its next phase of growth.
"We still are small in terms of B2B revenue in India and my intention is that in the next five years time, a revenue of 50 per cent would come out from B2B solutions," Panasonic India and South Asia President and CEO Manish Sharma told PTI.
Panasonic India had a turnover of Rs 8,700 crore last year. For FY2016-17 it is targeting sales of Rs 10,800 crore, in which consumer durables are expected to contribute around Rs 4,800 crore and mobile phones around Rs 2,500 crore, while the B2B vertical is expected to contribute Rs 1,000 crore.
Elaborating on the company's B2B strategy, he said: "There are three pillars on which we will focus -- mobility solutions, energy storage solutions, and security and surveillance solutions."
Going forward, he said the company would shift from product selling approach to a solution selling approach.
"So far the strategy was to concentrate on few areas and therefore we concentrated our resources into building consumer business platform which now is ready," he said.
The company is looking opportunities in seven categories - high definition video conferencing, PBX, rugged notebook & notepads - Toughbooks & Toughpad, security & surveillance, display panels, projectors and document solutions.
Under mobility segment, Panasonic is focusing on toughpad and smartphones, while lithium ion batteries under energy segment. In security and surveillance solutions, the company has presence with range of security cameras and accessories.
Panasonic, which is going to celebrate 100 years of its foundation next year, is looking for a major role expansion in 2017
"2017 is playing a major role for us because this run up for our 100 years. We are making two approaches towards 2018. One is how we are becoming more as a solutions company by collaborating with the ecosystem itself and how to become more sustainable for future," said Sharma who is also Executive Officer, Panasonic Corporation.
According to him, in that process "not only the consumer division would continue to drive growth but we would also create diversity of the portfolio in the coming time for making this company sustainable in India."
Panasonic entered India in 1971 with its dry cell battery factory.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)