Panasonic eyes 10 per cent market share in camera lens segment in FY18
New Delhi: Japanese Consumer electronics maker Panasonic today said it is eying to corner around 10 per cent market share in the professional inter-changeable lens segment in FY 2017-18.
The company is expecting its high precision video recording facility would help create space in the segment which is largely dominated by other Japanese rivals such as Nikon and Canon. The company today launched its hybrid camera Lumix GH5 here.
"We are looking for at least 10 per cent market share in FY 2017-18 in the high end camera segment, in which GH5 would be competing," Panasonic India Product Head- Digital Imaging, Gaurav Ghavri told PTI.
He further added: "The market which we are targeting is over Rs 1.40 lakh."
Presently, Nikon and Canon together control over 90 per cent of the professional inter-changeable lens market, which is estimated to be around 1.5 lakh units.
The company presently has three per cent market share in this segment and has sold around 4,000 to 5,000 units in last two years. Lumix GH5, which can do 4K video recording, has been priced at Rs 1.43 lakh for the body and Rs 1.88 lakh with Kit that included 12-60 mm lens.
Moreover, Panasonic which is enhancing its manufacturing capacity to be more competitive in the domestic market, today laid the foundation stone of its first refrigerator plant in Jhajjar, Haryana.
The company, which plans to invest Rs 115 crore in the plant, will begin operations from January next year and sales will commence from April 2018 in India, Panasonic said in a statement. The plant, spread across 10,000 sq meters, has an annual production capacity of approximately 5 lakh units.
"By further extending our manufacturing footprint in the country, we intent to ramp up our position as one of India's dominant consumer durable corporation," Panasonic India and South Asia President and CEO Manish Sharma said. Panasonic currently imports fridges from Thailand, Indonesia and Vietnam and has plans to continue import the large-capacity refrigerators.
The refrigerator plant will manufacture top and bottom-mounted refrigerators. Last year, the company said it aims to double its market share and sales from the category in the next two years.
"We have around 1.5 per cent of the market share and we are looking to have 5 per cent market share in 2018. We are looking at doubling our this years revenue in 2018. We are looking at a revenue of Rs 600 crore coming from fridge in 2018," Sharma had said.
