Panasonic AC sales reached 1 Million, plans to invest Rs.120 crores

Hyderabad, May 20 : Panasonic today announced setting yet another milestone by hitting 1 Million Air Conditioner sales in India since April, 2008.

Understanding and meeting the customer requirements & needs has been a constant endeavor at Panasonic. In the AC segment, the company has set new bench marks with its ECONAVI technology based on their unique energy saving concept. In addition to this, Panasonic is the first to aggressively promote the revolutionary ‘Intelligent Inverter Technology’ that helps the air conditioning unit reach the desired temperature faster and also operate much efficiently and save up to 50% energy consumption. With its already existing expansive portfolio in the AC segment the company has achieved this milestone in shortest period and will continue to roll out more innovative additions catering to the diverse needs of consumers.

With localisation being one of the key growth drivers for Panasonic in India, the company has been creating products that meet the specific needs and requirements of customers. Keeping this in mind, Panasonic also introduced first-of-its-kind India specific innovation Cube AC in 2010, which is moderately priced with all comforts and energy efficiency of split units, to suit the requirement of Indian households. With “Localisation” and “Innovation” at the core of the company’s business strategy, the market share percentage for ACs which was less than one per cent in 2008 jumped to six per cent in 2010 and currently stands at 15 per cent today. Panasonic being a relatively new entrant is growing around 80 to 100 per cent in split ac segment and stands no.1 in states like Gujarat, Maharashtra, Tamil Nadu and Rajasthan.

Speaking on the milestone achieved, Suresh Kumar Bandi – Divisional Deputy Managing Director, Home Appliances Business, Panasonic India said, “Panasonic continues to revolutionise the AC market in India and the milestone of one million is just a start. Our Japanese Technology powered ACs will continue to deliver many more milestones and comfort our customers for years to come”

In addition to its existing line up and growth achieved till now, Panasonic plans to invest Rs.120 crores in FY 13 in the spilt air-conditioner segment and aims to capture around 20 per cent of the market share by end of this fiscal. The company recently launched its new and improved AC line up of ECONAVI products, and with its new advertising campaign featuring Katrina Kaif the company is hoping to make its presence felt as the innovator and the change-maker. INN