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Sennheiser enters India, eyes 7pc market share

By Staff
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Google Oneindia News

New Delhi, Feb 18: German audio equipment major SennheiserElectronic has announced its entry in India with a target of capturingatleast a seven per cent share of the Rs 285-crore- audio market in thefirst year.

The manufacturer of microphones, headphones and wirelesstransmission products has formed a 100 per cent subsidiary, SennheiserElectronics India Pvt Ltd, for the purpose.

The new company will be led by Ms Sharmila Sahai as General Manager who was roped in from Philips India some time back.

''The size of the Indian audio industry is estimated at Rs 285crore of which we hope to capture seven per cent within the first yearof our entry,'' Ms Sahai said.

The current key target markets include Mumbai, Delhi, Bangalore,Chennai and Hyderabad, she said adding that the company is targeting amarket share of 28 per cent by 2011.

In the first year, the company plans to focus on establishing thebrand in the Indian market, building all spheres of the business, andextending the distributor network across India.

The next phase will encompass driving growth and profitability andexpanding the team, including the set-up of additional offices andafter-sales service centres.

Later, it will move into a more evolved phase of driving marketshare and broadening the product range in the country, she added.

Out of the total Rs 285 crore, about Rs 100 crore is in theprofessional equipment market while the rest is in the consumer marketwhich includes products used by the call centres.

About 60 per cent of the total market is believed to be under the grey market.

Sennheiser was earlier serving the Indian market through its sole Asian subsidiary based in Singapore.

The company also distributes products under other brands such as Neumann.


UNI

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