"There is tremendous potential in the Indian market and we are ready to invest more," Panasonic Deputy Managing Director Hidenori Aso told reporters in New Delhi.
The company is a marginal player in the consumer durables segment, which is dominated by South Korean companies LG and Samsung. Panasonic, which manufactures televisions at its Noida factory, could manage a meagre Rs 150 crore (Rs 1.5 billion) from the Indian market last fiscal.
"The Koreans did a good job in India and I feel we got a little delayed. But we will move aggressively now," Aso said.
The company has discontinued production of air-conditioners and washing machines in India and depends on imports for sales.
Asked whether it had similar plans for televisions, Panasonic India Managing Director Shrikrishna G Kulkarni said there were no plans to discontinue production at Noida.
On Thursday, the company launched a range of Plasma and LCD televisions in India apart from digital movie cameras and digital still cameras. The products would be imported from locations like Japan, Kulkarni said.
Photo: Dijeshwar Singh/Saab Pictures
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