Toshiba eyes Rs 5,000 cr from digital biz in India by 2014-15
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Japanese electronics firm Toshiba on Thursday said it is aiming Rs 5,000 crore sales from its digital businesses in India by 2014-15 and will consider setting up a TV manufacturing plant after reaching the target.
The company, which currently has five group companies in India, is targeting to sell 20 lakh units of TVs and 10 lakh units of personal computers by March 2015.
"I think it is mandatory to have our own factory in India to address the market, which has a huge potential to grow. Our own plant will also give us close association with customers' choice," Toshiba Corporation Corporate Senior Vice President Shigenori Tokumitsu said.
The company will consider setting up a TV assembly plant in India post 2014, he added.
"We have set a target to sell two million TVs and one million PCs with a total revenue of Rs 5,000 crore in India by 2014-15. We will consider about the TV facility only after that," Tokumitsu said, adding the company will continue to import its entire range of PCs for India in future.
Currently, the company imports 90 per cent of its TV panels from Indonesia, while the rest are assembled in India through a contract manufacturing agreement with a local firm.
As part of plans to achieve its target, Toshiba on Thursday introduced a range of 22 LED TV models in India, priced between Rs 10,000 and Rs 12,00,000 in the presence of its brand ambassador Sachin Tendulkar.
The firm also rolled out three new range of PCs, priced between Rs 33,250 and Rs 64,000.
"Going forward, we will shift our focus towards LEDs from LCDs. With this new range of products, we expect to become the number one LED TV company in India in this fiscal," he said.
He, however, said the company will continue to sell LCD TVs as consumers still prefer to go for such products.
During 2011-12, the company's overall market share in the TV segment increased to 11.1 per cent from 1.9 per cent in the previous year. The market stood at 40 lakh units.
"We are targeting to achieve 13 per cent market share in TVs in this fiscal and the market is estimated to grow to 60 lakh units," Tokumitsu said, adding the company is aiming to corner 15 per cent market share in the next fiscal.
In the PC segment, the company is hoping to achieve a market share of 10 per cent in this fiscal as against 7.2 per cent in the last fiscal with sales of 2 lakh units, he added.
Toshiba India Director (Digital Products, Home Appliances and Services Division) Wu Tengguo said the company currently has 6,000 sales points along with 450 service centres across the country.
Talking about the India, Tokumitsu said 24 per cent of the USD 74 billion Toshiba Corporation's revenue come from emerging markets and India plays a very important role in it.
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