SME Times News Bureau | 20 Sep, 2012
Japanese electronics major Panasonic is aiming at a 50 percent sales growth during this festive season compared with same period a year ago, a top company executive said Wednesday.
"We are aiming to clock revenues of nearly Rs.1,200 crore during the festive season this fiscal as compared with Rs.800 crore same period last year," Manish Sharma, Panasonic India's managing director (Consumer Product Division), said here.
Sharma said the sales growth would be driven by higher sales of TV sets and air-conditioners during the festive season, which kicked off with Onam in August.
He added the firm would invest nearly Rs.70 crore for new television commercials and marketing initiatives in this financial year.
The company said it has no plan to increase prices further until the end of this festive season, which would end in November, as it already hiked prices of some of it products.
The firm raised prices of its air-conditioners and refrigerators early September.
"We have just increased the prices of ACs and refrigerators this month. So, we will not increase the prices until the end of this festive season," Sharma said.