"The investment is in line with its strategy of raising international sales," spokesman Akira Kadota said. "Panasonic Corp aims to generate 55 percent of the group's sales outside japan in the fiscal year ending March 2013, up from a current level of 47 percent," it said.
The company is more dependent on the dwindling local market than rivals like Sony Corp, which gets more than 70 percent of its sales overseas. It is estimated that the new air conditioning equipment plant will come into operation in 2012. Kadota said Panasonic planned to invest a total of 30 billion yen ($320 million) in India over three years starting in the 2010/11 fiscal year.
The firm aims to raise its sales in India to around 200 billion yen in the year to March 2013, up from 40 billion yen today, he concluded.
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7 October 2010
Consumer electronics maker Panasonic has announced it will invest $160 million to build an air conditioning equipment factory in India as part of a plan to quintuple sales in that country over three years.
"The investment is in line with its strategy of raising international sales," spokesman Akira Kadota said. "Panasonic Corp aims to generate 55 percent of the group's sales outside japan in the fiscal year ending March 2013, up from a current level of 47 percent," it said. The company is more dependent on the dwindling local market than rivals like Sony Corp, which gets more than 70 percent of its sales overseas. It is estimated that the new air conditioning equipment plant will come into operation in 2012.
Kadota said Panasonic planned to invest a total of 30 billion yen ($320 million) in India over three years starting in the 2010/11 fiscal year. The firm aims to raise its sales in India to around 200 billion yen in the year to March 2013, up from 40 billion yen today, he concluded.
