Technology major Panasonic India today said that it will foray into the fast-growing Sri Lankan market with its range of mobile phones across various price points.

The Sri Lankan market has a massive potential for growth in the mobile phone industry and there is a huge untapped telecom consumer segment offering a favourable opportunity for Panasonic to establish itself as a credible force in this market, it said in a statement.

“With the entry into this market, our ultimate aim will be to cater all customer segments in the country and build a strong and robust distribution network,” Panasonic India and South Asia Managing Director Manish Sharma said.

Panasonic has recently designated India as the sixth strategic region, which will take care of SAARC nations, West Asia and Africa.

“It is in line with this aim that we are today marking our entry in this region, given the huge market potential that exists in the country. We have also ventured into the Nepal smartphone market and Panasonic is looking forward towards building a stronger brand presence across regions,” Sharma said.

Over the last five years, Sri Lanka has witnessed a surge in subscriber base driven by a combination of factors such as increasing household incomes, expanding mobile network coverage and increasing competition between mobile operators.

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