Panasonic eyes Rs 140 cr sales from bluetooth trackers biz

Japanese tech giant Panasonic Wednesday said it expects to clock sales to the tune of Rs 140 crore in the next one year from its bluetooth-based trackers that have been conceptualised and designed by its team in India.

The company, which launched two versions of its tracker 'Seekit' priced Rs 1,299 onwards, will start selling the devices online from the first week in December.

"We are starting with a small device and this will be built up into a larger ecosystem. While the market is still at a nascent stage, there is a strong potential not only in the consumer segment but also enterprise...we expect sales of Rs 140 crore in the first year," Panasonic India and South Asia President and CEO Manish Sharma told PTI.

He added that using their mobile phones, users can find out the location of keys and other items to which the tracker can be attached to.

Since the device has bi-directional tracking feature, it also allows users to find their phone by double pressing the button on the tracker.

If users leave their phone behind, Seekit will 'buzz and glow', reminding the user to go get it, Sharma said adding users can also click selfies using the device.

Seekit also allows users to send SOS alerts with their GPS location to three selected contacts by pressing the button on the device. The devices have a battery life of 12-18 months.

Apart from consumers, Panasonic sees a huge potential in the enterprise segment. "We are also talking to companies like luggage makers and car makers to embed our technology in various products," he said.

Sharma said reports suggest that globally the beacon market (including marketing potential) is expected to touch USD 14.8 billion by 2024. Currently, the market size is about 30 million units globally.

Beacon is a device designed to attract attention to a specific location.

"We are focusing on both Internet of Things (IoT) and artificial intelligence-based solutions at our India Innovation Centre. The launch of Seekit is strategically aligned to our objective to create a smart and connected ecosystem," Sharma said.

He added that Seekit was conceptualised and designed end-to-end by its India team. The manufacturing would be done in India and China.