Philips plans to double market share in TV sgmnt by 2016-end

Global electronic goods maker Philips is planning to double its market share in the TV segment to 10 per cent in the country by the end of 2016, a senior company official said.
The company sells its product in the country through official brand partner, PE Electronics. It took over the TV segment from Philips in the country in 2010.
"At present, we enjoy a market share of 5 per cent in terms of quantity under the TV segment and we plan to increase it to 10 per cent by the end of the next year," PE Electronics chief executive Neeraj Sethi told PTI here today.

He was speaking on the sidelines of the launch of its 4K Ultra HD television range.
"We have already sold TVs valued at USD 7 million in the country. This year, we are hopeful of taking this figure to USD 10.5 million," Sethi said adding, "Our market share in TV segment in top 75 cities at present was 8-10 per cent."
He further added that his company in the TV segment grew by three times more than that of the average market growth at 7 per cent during the last year.

When it comes to TV segment, the country currently contributes 4 per cent of the global market which was valued at around USD 225 million.

"To begin with, the company will focus on all the metro cities for its new range," Philips group senior director consumer care, quality and sustainability, Koos Dekker said.
The new 4K Ultra HD television range, available as 50", 58" and 65" variants, is priced between Rs 1,55,000 and Rs 3,72,500, he added.