Every year introduction of some new technology in TV space bring excitement in the Indian consumer electronics market. Panasonic has now given to India a new technology which will give more real-life experience while watching TV…
NEW DELHI, JUNE 3, 2017: Amid talks of introduction of GST in India, Panasonic has expanded its high resolution 4K TV portfolio by introducing EX 750 Series and EX 600 Series, which is aimed at increasing the market share of the Japanese consumer electronics major.
“In TV segment, we have around 7.5 to 8 per cent market share, while 4K category it is around 5 per cent. This year we are looking at 10 per cent market share out of total television category. In the 4K segment also we plan to increase our market share to 10 per cent,” Panasonic President and CEO (India and South Asia) Manish Sharma said.
The TV features a new “Cinema Display”, 550 nits super-bright panel, HDR1000 and is powered by the “Studio Colour HCX2” processor which has been tuned by experts at the Panasonic Hollywood Lab. EX750 65-inch flagship model is priced at Rs. 3.1-lakh, while the EX600 series range will be available in 55-inch, 49-inch and 43-inch screen sizes at Rs. 178,900, Rs. 141,000 and Rs. 78,900 respectively.
At present, the 4K panel segment contributes around 3 per cent of Panasonic’s total sales in Indian market. The 4K market is around 5 per cent of the total TV market in terms of value and 2- 2.5 per cent in terms of volume. The Indian TV market is around 12 million sets and is growing by over 17 per cent.
Mr. Sharma believes that the 4K market is growing fast in India and with Panasonic introducing latest products in this segment, it is going to capture leadership position. Even in the normal panel segment, Panasonic is witnessing a high double digit growth in 40- inch and above segment in comparison to 32 inches and below.
“40-inch segment is growing quite exponentially. Last year, we had 25 per cent plus growth in TVs last year, and in 40-inch category, we had around 42 to 43 per cent growth,” he added.
The company also launched hexagonal box design UA7 sound system that has 10 speakers, delivering 1700W of sound. “With ‘Hexa Chroma Drive Pro’, high-brightness panels and sophisticated smart features, the new range ensures that our customers will get the maximum impact from the 4K resolution,” said Neeraj Bahl, Associate Director, Business Group Head, Consumer Electronic, Panasonic India.
Asked about confusion regarding GST implementation, he said the government should consider imposing higher customs duty on imported fully built consumer durable products in order to protect domestic manufacturing when GST is implemented.
“Post-GST, we have also requested the government to consider a higher import duty on CBU products which are imported,” said Mr. Sharma who is also President of industry association Consumer Electronics and Appliances Manufacturers Association (CEAMA).
“We will make sure that there is no sort of risk or threat from imported products coming in at potentially cheaper cost than those which are manufactured in the country. That is one of the announcement which we are expecting from the government to also consider,” he added.
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