Panasonic Corp expects India arm to double its revenue contribution

The Japanese electronics major decided to make India as the hub for West Asia and Africa

Panasonic India Pvt Ltd has set a target to double its revenue contribution to its parent company, Japanese electronic major Panasonic Corporation, in 2015-16. At present the Indian arm is contributing 2% to the global revenue.

Speaking to reporters after launching its Android Tablet Panasonic Toughpad FZ-B2 in Chennai today, Toru Hasegawa, director and member of Board, Panasonic India Pvt Ltd, divulged the plans.

The new product, which is priced at Rs 75,000, is targeted B2B segment including automotive, aviation, telecom, utility, retail, manufacturing, logistics and others.

He added, currently of the total revenue, B2C revenue contribution is 60%, while B2B contribution is 40%. "We want to bring it to 50:50 in the next few years," said Hasegawa, adding that company also set a  target to clock $.4.8 billion revenue from India by 2018-19.

According to him, India is not only a high potential market, it is also now a regional hub (for West Asian and African markets) for the Japan's largest electronics maker Panasonic Corporation.

The company manufactures a range of products in India including washing machine, kitchen appliances, televisions and others for both domestic and export markets.

Speaking about today's launch Gunjan Sachdev, general manager and national business head - System Solution Division, Panasonic India Pvt Ltd, said that the new Tablet would support company's plan to increase its market share to 60% from the current 55% in the Tablet segment, which is estimated to be around Rs 100-120 crore.

He noted, the tablet market is growing at around 20-25% and Panasonic reported 30% growth in this segment.

"Tablets are increasingly attractive option in the enterprise, particularly for small- and medium-sized companies businesses. Many of the tablets on the market today are unreliable for businesses looking for a smart, dependable long-term investment," said Sachdev.