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Localisation is high on our agenda [Financial Express (India)](Financial Express (India) Via Acquire Media NewsEdge) Japan's largest consumer electronics company, Panasonic has identified India as a high growth market for the company's future growth. It is investing R1,500 crore towards expansion in the next three years. There is a strong focus on local manufacturing and expansion of production processes, in addition to developing India-specific product innovations catering to domestic needs. Continuing its strong focus on India, Panasonic India has marked its entry into the mobile phone segment with its P51 smartphone. This phone is targeted at the young generation-the always-on-the-go college youth, and the executive class, who is always on the lookout for better, faster and savvier smart-phones on the go, says Daizo Ito, president, Panasonic India. "India is a high growth market for Panasonic and we are making aggressive investments in the region on products, talent, marketing and manufacturing," he tells Sudhir Chowdhary. Excerpts: * BSE Sensex * NSE Nifty * Top Gainers/Top Losers * Top Value * Top Quantity What are the business prospects that you see from the Indian mobile handset market India is one of the youngest population countries in the world, with an average age of 25 years. With a current population of over 1.2 billion, India is poised to dominate the global economy in the coming decade. The huge potential of India lies in the fact that it offers a very large customer base to tap into. Indian smartphones market is presently at a nascent stage with enormous consumption possibilities and is yet to reach its maturity curve. Smartphones is an important category for our expansion in India and will help us penetrate our brand amongst the youth. For the FY2013, we are targeting at 8% share of the total smartphones market revenue in India. Aren't you rather late in entering the smartphone arena The Indian smartphones market is young and growing at a rapid pace, with ample space for newer players to enter and garner the best of the opportunities offered by this space. Having a first-hand understanding of the marketplace and after a detailed study of the consumer requirements, we aim to address the major mobility demands of the country. Designed keeping in mind the consumer demands and the best of technology, our new offering (Panasonic P51) will fill-up the white spaces in the market. What are the initiatives you have in mind for increasing the presence in India The smartphone market is growing at an incredible pace and is expected to reach 3.9 billion by 2017 globally and India is fast catching up with the smartphone race. Panasonic is pursuing a localisation strategy for products. We are bringing our smartphones range after a thorough study of this marketplace. With our unique tailor-made offerings, we would leverage our wide reach and acceptance across the country. We are a highly technology oriented organisation and with this phone we would offer everyone premium design, good performance, special display technology at a competitive price. Given that India has a very large section of young population, we are focusing on addressing their mobility demands. These phones are targeted at the young generation-the always-on-the-go college youth, and the premium executive class, who is always on the lookout for better, faster and savvier smart phones on the go. It is the blend of technology and design which makes it a smart utility product and we are offering performance superiority, operational efficiency for extraordinary user experience. We have also collaborated with Jaina Marketing, one of the pioneers in the marketing and distribution function in India, as the strategic partner for marketing, distribution and customer support, managing the marketing & distribution, and customer care support for our smartphone series. What are the broad focus of activities for Panasonic in India How important is the India market for Panasonic in terms of business India is the second fastest growing economy in the world (after China) and amongst the most favourite business and investment destinations in the world today. India is a high growth market for Panasonic and we are making aggressive investments in the region on products, talent, marketing, manufacturing etc. We are strengthening our efforts to reinforce and further strengthen our presence in the India market by bringing in more products, more localisation, and more empowerment. India today is one of the key markets for Panasonic and it is the basic management policy that has got us to become massive success in the country. Panasonic strategy for success in India is based on the three vital pillars-empowerment, localisation and rich communication. Being a Japanese company, we managed business in India with the contribution of the local people. Local empowerment proved to be a boon and helped us grow and we will continue to focus on it. Also, the idea is to manufacture locally to catch up with the competitive Indian market. Panasonic emphasised more on local manufacturing of AC and washing machines and localisation of the product design; need of Indians is different from that of Japanese. In addition, rich or good communication is necessary within and outside the company (for customers); we have to ensure a good communication flow. Keeping in mind the huge market in India, good communication is needed; we have received good results doing the same in the past. How have you tried to differentiate yourself from other mobile handset players Today's young generation demands the latest in tech innovations at the tip of their fingers. Customers today prefer relevant innovation over a complex and generic one. Taking a cue, Panasonic focuses on creating categories of products for varied segment of consumers as the need of every individual is different. We believe in the expression of individuality through our tech savvy products and offer them at a competitive price point. It is the blend of technology and design which makes it a smart utility product. We are offering performance superiority, operational efficiency for extraordinary user experience, innovating on the build quality and overall consumer satisfaction. At Panasonic, we strive to meet the aspirational needs of the potential customers. Panasonic smartphones will come equipped with amazing features like easy-to-use, ultra-responsive touch displays that allow users to check their social network updates, read SMSes, check calendar, and answer/reject/mute calls. What will the Indian telecommunications market look like in 10 years There is a large unaddressed market looking to augment their lifestyles with innovative and smart devices. The youth and the rural segment is set to contribute significantly by moving up the value chain, from feature phones to smartphones. The mobile phone industry is expected to continue its growth into 2013, driven by the stupendous growth of close to 70% in the smartphone market. The overall mobile phone market in India reaches 218 million units approximately a 16% y-o-y growth. Copyright 2013 The Indian Express Online Media Pvt. Ltd., distributed by Contify.com Credit: Sudhir Chowdhary (c) 2013 The Indian Express Online Media Pvt. Ltd., distributed by Contify.com |