Panasonic eyeing smart TV segment in UP

Japanese consumer electronics giant Panasonic is eyeing the growing smart television space in Uttar Pradesh.

The segment, which is still in a nascent stage, is slowly picking up and is pegged to account for almost 25-30 per cent of TV sales during the festive season spanning September-October 2011.

The price of Smart TV, which is compatible with internet and several other hi-tech features, starts from around Rs 32,000.

“This segment is growing fast and has been received well in even smaller towns,” Panasonic regional manager Fareed Khan told the media here on Thursday.

Besides, he said, flat panel TV sets would completely replace cathode ray tube (CRT) TV sets in the next 2-3 years.

“The price difference between CRT and flat panel TV is narrowing and people now prefer flat panels as they occupy less space, have more value added features and longer lifespan,” he informed.

Khan said the growth rate of flat panel TVs in the upcountry market was phenomenal. Flat panel TVs are based on either plasma, liquid crystal display (LCD) or the latest light emitting diode (LED technologies. “The life span of a plasma panel is almost 30 years, while that of LCD is about 18 years,” he said.

Panasonic is targeting to increase its market share from 8 per cent to 12 per cent in UP during festive season. It is targeting turnover of Rs 5,500 crore in India in 2011-12 compared to Rs 3,200 crore last fiscal.

Panasonic product portfolio includes TV, DVD player, camera, home theatre system, AC, refrigerator, washing machine, microwave oven, vacuum cleaner etc.