Financial Daily from THE HINDU group of publications
Thursday, Jan 22, 2004
Financial Daily from THE HINDU group of publications Thursday, Jan 22, 2004 |
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Corporate
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Outlook Philips automotive lighting division eyes 30 pc growth Neha Kaushik
New Delhi , Jan. 21 THE automotive lighting division of Philips India is eyeing 30 per cent increase in sales in the current calendar year. "Our target is to close this year with sales of Rs 65 crore, up from Rs 50 crore last year," said Mr B. Sivakumar, Country Manager, Automotive Lighting, Philips India. Currently, Philips has 35 per cent market share in the automotive lighting segment and is the OE supplier for major automobile companies such as Hyundai, Toyota, Maruti, and Tata Motors, among others. Though the company imports all automotive lighting products from its facilities located in Europe, Mr Sivakumar did not rule out the possibility of setting up a production facility in India at a later stage. Philips is now seeking to make a mark in the replacement market too, and is taking steps to improve its distribution network in the domestic market.
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