Kolkata: Panasonic India is aiming for a robust growth for the current financial year. The home appliances and consumer electronics major is riding high on growing 4G handset market and upcoming festive season. The company is expecting its mobiles handsets category to grow by about 40 per cent in sales on the back of expanding market of 4G handsets.

Panasonic India President and CEO Manish Sharma said: “We are aiming at 20 per cent growth for consumer durables in 2016 from last year’s business of Rs 4,000 crore, while our mobile phone is expected to do a turnover of Rs 2,500 crore this year when compared to last year’s Rs 1,800 crore.”

Panasonic on Tuesday announced its festive promotion in the city. While its electrical division Anchor was expected to grow around 10 per cent to Rs 2,500 crore from Rs 2,200 crore, the total Panasonic India revenue in 2015 was Rs 8,700 crore.

Speaking on mobile handsets, Sharma said: “Some six new models will be introduced in the price band of Rs 8,000-15,000. We will focus in the price band of Rs 8,000-15,000, Sharma said. Panasonic was also optimistic about the festive season sales and it proposes to spend Rs 85 crore in promotions. The company does not have any fresh capex in the near future.”

Source: PTI