Panasonic to re-launch Sanyo brand next year

Panasonic to re-launch Sanyo brand next year

Kolkata: Panasonic India on Friday said it would re-launch the Sanyo brand by April next year to target the mass market.

“We will launch washing machines under the Sanyo brand in April," director (marketing) of Panasonic India Manish Sharma said on Friday.

Panasonic had recently bought out the Sanyo brand in a $9 billion deal.

He said that while Panasonic would address the niche and mass markets as well, Sanyo would only cater to the mass segment.

Sharma said that sound systems, batteries and solar cells would also be marketed under the Sanyo brand.

Keeping a target to clock U$2 billion turnover by 2012, Sharma said that LCD panels and air-conditioners would be the key drivers for growth.

In 2010, the company registered a revenue of Rs3,200 crore.

Sharma said that the latest data revealed that Panasonic had a 8% market share in the LCD panel segment.

Panasonic is also in the process of investing $300 million over the next three years in setting up a new facility in the north.

Consumer durables contributed nearly 60% of Panasonic India’s sales.