Maxell Singapore, a 100 per cent subsidiary of Japan-based Hitachi Maxell Limited,opened up its first liaison office in Chennai today. This is also Maxell's first physical presence in India where the company started its operations a year ago. | |
| "Consumption in the Indian market has grown in recent years due to an increase in the national income level and continued growth is expected in the future. This new office will serve as a sales promotion and marketing hub for Maxell's products," said Kamemoto Masaru, chairman, Asian global sales and marketing, during a press conference. |
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| Maxell plans to carry out the business in India through its distributors. At present, the company has two distributors in Chennai, who cater to all the four southern states. |
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| The company deals with accessories in computer media (digital video discs, compact discs, floppy discs, memory cards), audio and video media (audio and video tapes, professional use tapes, over write optical discs) and Lithium Ion rechargeable batteries. Masaru said that the company plans to set up its own production unit in India to cut down the manufacturing cost and negotiations are on with Moser Baer, leader in CD market, in this regard. |
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| Maxell has a 25 per cent market share globally and targets a revenue of $ 12 million in India by 2006. |
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