The Hindu Business Line : Philips unfolds `novel concept' strategy to keep leadership

AIMED at further consolidating its market leadership in the domestic consumer electronics market, Philips India Ltd has evolved a new strategy of adding `new concept' to the product category rather than merely adding new products.

Addressing the media here on Tuesday on the eve of national launch of its latest DVD (digital versatile disc) technology, the Philips India Brand Manager, DVD Marketing, Mr Gautam Dalal, said as a part of the new strategy, the company has lined up a host of new technology products in the segments of DVD, home theatre and music systems and most of these would start hitting the market place from the end of this month.

Currently enjoying a market share of around 36 per cent in the stand-alone DVD category, the company expects to takeover the VCD (video compact disc) market with products in terms of size, design and price. While the current DVD market size was estimated at around Rs 75 crore, the company expects it to grow phenomenally to over Rs 500 crore by the end of the current year and attain more than 50 per cent share in the expanded market. According to Mr Dalal, a significant portion of the existing VCD market of around Rs 800 crore was expected to be replaced by the DVD.

Philips India also expects the home theatre market in the country, currently hovering at around Rs 12 crore, to significantly expand to over Rs 50 crore during the current year. Similarly, the company foresees a substantial growth in music systems market, in which its market share is nearly 50 per cent of around Rs 450 crore with new offerings.

On the latest offering in the DVD stable, DVP-320, Mr Dalal said the company brought in the most affordable stand-alone DVD technology at a highly affordable price point. At an MRP of Rs 4,990, the product is equipped with the latest features such as enhanced sound quality and the smart picture feature to create personalised setting.

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