Panasonic eyes $36 mn from low-cost phone biz

Japanese electronics major Panasonic will introduce low-cost fixed and cordless phones in India to triple its revenue to $36 million (Rs 175 crore) from the segment, over the next 3 years.

The company has tied up with Bharti Airtel's landline business and expects to sell around 70,000 cordless phones on the back of special schemes from the telecom major.     

"Last year we sold only 10,000 (cordless) sets. This year we aim big, as we have tied up with Airtel. We expect to sell around 70,000 sets," Panasonic Business Head (Voices Asia Pacific) Chan Wei Ti told PTI.     

He said, the initiative is part of the company's strategy to triple revenues to $36 million from $12 million from the segment over the next three years.     

"Panasonic is focusing on emerging markets like India, where we can grow our business in volume. We are working on bringing products which have low cost with basic features," he said.     

The company will soon launch a new cordless phone priced at Rs 1,200, we aim to raise the penetration in small towns, he added.     

We are working to introduce fixed phone models costing under Rs 1,000 for domestic consumers.     

"It is currently in talks with service providers such as Airtel to market these new products for home consumers," he said.