The Hindu Business Line : Philips eyes Rs 2,000-cr biz from consumer electronics segment

THE size of Philips India Ltd's consumer electronics business has been pegged at Rs 2,000 crore three years from now. In 2003, the company's consumer electronics business generated a revenue of Rs 650 crore. In the year ending December 31, 2004, the consumer electronics division of Philips is expected to generate a revenue of Rs 900 crore -1,000 crore, according to Mr D. Shivakumar, Executive Director (Consumer Electronics) of Philips India Ltd.

Addressing a news conference held here to announce promotional schemes in the run-up to the Pujas and Deepavali, Mr Shivakumar said the company would invest Rs 200 crore in the Philips brand over the next three years. By that time, Philips' share of the colour television market was expected to touch double digits, up from 6 per cent at present.

According to him, Philips had "missed the bus" on earlier occasions and was keen to attain stated targets pertaining to market share and revenue growth.

In the last one year, the growth in Philips' colour television (CTV) segment has been the "highest over the last decade both in value and volume terms". In the days ahead, CTVs, DVDs, home theatres, radios and music systems would be key drivers of growth for the company.

Mr Sivakumar said the Vardaan range of CTVs had found takers among first-time buyers and in the replacement segment in rural areas. Besides targeting this segment, Philips India has plans to set up 50 top-end outlets across the country in the months ahead. These outlets would stock the entire range of Philips' products.

As part of its offerings for the ensuing festive season, Philips India today announced that customers would receive gifts ranging from insulated water jugs to trolley bags on purchases of Philips products till November 12 this year.

More Stories on : Outlook | Consumer Electronics

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page