NEW DELHI : As Japan giant Panasonic turns 100 next year, the company aims for Rs 1,200 crore ($185 million) in revenue from India, with a renewed focus on connected devices and moving from a product-based approach to a solution-based approach, a top executive from Panasonic India has said.
Panasonic India currently contributes two per cent to the parent company's global revenues, and it aims to make it five per cent in the next three years.
"This year will witness a fundamental shift in the way we conduct our business. We expect to wrap up this year somewhere with Rs 1,000 crore and next year, we are looking at Rs 1,200 crore in revenue from India," Manish Sharma, President and CEO of Panasonic India and South Asia, and Vice President, Appliances Company, Panasonic Corporation, told IANS in a recent chat.
Connected solutions that help make a meaningful difference to consumers' lives will decide how the future is going to be.
The company has launched several solutions ranging from city surveillance, Toughpads, display panels and high-definition video conferencing in the recent past.
"We are now finding our own space in this era of digital convergence which is happening and feel that we are ready to provide such solutions as hardware -- connected devices are our strength," Sharma added.
According to industry analysts, there are nearly 23 billion connected devices and the number is expected to double to over 50 billion by 2020. By June 2017, some 510 smart city projects with a total investment of Rs 20,669 crore are expected to take off.
To be part of the bandwagon, Panasonic is working on two-pronged approach: building some of the digital capabilities in house and with companies as application partners.
Aiming to give users a connected experience, Panasonic India last month launched two new smartphones that are equipped with "Arbo" -- an indigenously developed artificial intelligence (AI)-based virtual assistant.
"AI has been dubbed as the technology which in the future will shape the product interface and the way we interact with our smartphones; with this pilot advancement we hope to not only enhance our market share but also further strengthen our position within the industry," Sharma told IANS.
Another successful product for the Indian market is Panasonic Toughpad -- a series of rugged tablet computers certified to meet the IP65 and MIL-STD-810G specifications for drops (up to four feet), shock, vibration, altitude, humidity, extreme temperatures and are used in fields like construction, defence, public safety, emergency services, government, healthcare and law enforcement, etc.
The company recently supplied 3,500 Toughpads to the Uttar Pradesh police. The devices are installed in survellience vehicles to keep the security personnel updated and connected with the control room.
While the company's connected solutions' division is set to grow 20 per cent over last year, growth in the consumer division would be nearly 22 per cent this year, Sharma noted.