Panasonic eyes 70% growth in state

Consumer durables major Panasonic India is eyeing a turnover of Rs 500 crore from Gujarat this financial year, which would be a growth of 70 per cent over last fiscal.

"Gujarat is a leading market for us, and we are aiming to touch a turnover of Rs 500 crore from this market within this fiscal", said Manish Sharma, managing director, consumer products division, Panasonic India, adding that it would be a 70 per cent growth over last year.

The company's strategy to come up with a new affordable split air-conditioner has helped it do well in the Gujarat market, Sharma said. "We are now the number one brand in split air-conditioners in Gujarat with a 24 per cent market share", he added.

Panasonic has an all-India market share of 14 per cent in split air-conditioners (ACs). "In Gujarat we doubled our market share in air-conditioners this year over last year. We decided to offer a new range of split ACs that are around 15 per cent more cheaper compared to conventional split ACs available in the market", Sharma said.