Consumer electronics maker Panasonic Thursday introduced residential air conditioners under its online brand Sanyo and expects to corner around 10 per cent market share in the e-commerce segment, said a top company official.
Panasonic is also considering introducing brand Sanyo in appliances category after LED and ACs.
"Our intention is to command 10 per cent market share in the overall online AC market place this year and in the inverter segment of AC, we are aiming 15 per cent market share," Panasonic India President and CEO Manish Sharma told PTI.
The online AC market in India is estimated to be around 4 lakh units, which is 12-15 per cent of the total AC market, he added.
"Under brand Sanyo, we would be selling only inverter range of ACs and not the traditional fixed speed, which is now an outgoing technology," Sharma, who is also Vice President of Appliances Company, Panasonic Corporation, added.
When asked if brand Panasonic and Sanyo would compete each other in the segment, he said value proposition for both brands are different.
"Brand Sanyo would be below Panasonic, value for money brand...it would be an exclusive online brand with features and affordable price for consumers," he said.
Panasonic has introduced Sanyo Inverter AC range in five models, which would be available on Amazon.
Earlier, Panasonic had introduced TV panels under brand Sanyo in India.
When asked whether Panasonic would introduce more products under brand Sanyo, Sharma said, "we have a long term strategy for Sanyo...We have established TV and AC supply line and we would consider more appliance in future."
Sanyo entered India in 2016, with a new line of televisions to be sold through e-commerce platforms only.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)