India likely to be among first few countries where Panasonic will launch ‘invisible TV’
New Delhi: India is likely to be among the first few countries where Japanese appliances manufacturer Panasonic India will launch an “invisible” TV. The company has already developed a prototype which was showcased at an event in India on Monday. But consumers will have to wait.
The Japanese TV maker won’t be able to launch the product, which they call the world’s first invisible TV—a glass pane that turns into a television, for the next two years at the very least.
“It’s too premature to say anything about the product as of now. But India definitely will be one of the first few countries where we will launch the product. We are still two-three years away from mass production,” said Manish Sharma, president and chief executive officer at Panasonic, India and South Asia.
Sharma added that the cost of the new product cannot be ascertained as of now. However, it will definitely be placed in the premium range of products. Sharma was speaking on the sidelines of the launch of Panasonic’s 2017 line-up of 4K ultra high-definition television sets.
The company launched four new products (ranging from 43-inch to 65-inch models) in a bid to double to its market share to 10% by the end of 2017-18. Currently, the company holds about 7.5% share in the overall television market in India. Priced between Rs79,900 and Rs3,10,000, the new range is expected to enhance the picture and sound quality, accurate to the “filmmaker’s original vision.”
“This range will help us catch up the Indian customers. Our market share in 4K technology is very low, which means that we are not doing enough. The new range is very competitively priced and will help us increase our market share exponentially,” said Sharma, adding that the company plans to sell 22,000 units of the new range during the year.
Overall, the company plans to sell over 10 lakh TV sets during the year 2017-18, up from 7.5 lakh units sold last year.
India is also expected to rank fifth in the consumer durables market in the world by 2025, according to a study by Consumer Electronics and Appliances Manufacturers Association (CEAMA) and consulting firm EY.
“The Indian market for consumer electronics and appliances is around $9.7 billion and has grown at a compound annual growth rate of 9.7% over the 2010-2014 period and is poised to reach $20.6 billion by 2020,” the report said.