Panasonic targets to sell 1.5 million smartphones in FY'19

Panasonic, a consumer technology company, is targeting to sell 1.5 million smartphones in the ongoing financial year. The company's plan is to catch up with its target of garnering Rs 800 crore from this segment in FY'19.

Manish Sharma, President & CEO, Panasonic India and South Asia, said, "Our mobile phone business is going as per our strategy. We plan to sell 1.5 million smartphones this fiscal." 

"Our focus is to get 4-5 per cent market share in mobile phone segment priced in the range of Rs 20,000-Rs 25,000 a unit," Sharma added. 

The company is selling many phones in the range of Rs 7,000-13,000. As per its plan to upgrade technology, Panasonic will soon come up with offerings in the range of Rs 12,000-18,000. It will also ramp up its manufacturing facility from November. 

Sharma further said, "We are not focussing on market share but consumer experience with respect to all our product range that we have. By end of this fiscal, we expect to have slightly less than 3 per cent market share in the smartphone segment. We are not focussing on scaling up sales volume. We will also move from semi-knocked down (SKD) level of manufacturing to completely knocked down (CKD) manufacturing from November."