Philips Electronic to slash prices to boost sale

Chennai, Oct 20: Philips Electronic India Limited, a leader in consumer electronics, is to slash prices of low-end products to boost their sales and step up the sales of Home Theatre systems and DVDs.

Addressing a press meet here on Philip's special festival offer for Diwali, Senior Brand Manager B Vivek said the company proposed to reduce prices of low-end products, so that quality products could be made available to consumers at affordable prices to Indian consumers.

He said low-end products segment was witnessing 'disgrowth' when the company came out with a FM radio at Rs 160, after which the segment witnessed a sudden boom in sales.

Mr Vivek said the entry of Chinese products did not affect sale of branded products. Actually, it had helped branded products as consumers, after test-buying Chinese products, turned back to the branded products.

He said in the high-end products , Home Theatres segment had registered a growth of 300 to 400 per cent over last year. If Philips had sold 10,000 numbers last year, the sale had reached 30,000 numbers this year.

The sale of DVDs was also encouraging, he said, adding, Philips enjoyed market share of 30 per cent in DVDs and about 50 per cent in Home Theatre segments, Mr Vivek said.

On the occasion of Diwali, Philips had introduced a 5.1 channel DVD player at an exchange price of Rs 2990, he said. This season, the Diwali festival would see Philips offering the entire range of its products with free gifts, innovative finance schemes and exchnage offers. The offer would last till November 21, he added.

UNI