Philips forays into water purification market in India

New Delhi, May 2 (UNI) To tap the Rs 450 crore domestic water purification market growing at a 14-15 per cent rate per annum, Philips India today launched its product -- Philips Intelligent -- priced at Rs 8,500 to Rs 12,500.

''It is for the first time that we are foraying into this category globally, and India has been chosen as the launch pad,'' Philips (India) Chief Executive Officer K Ramachandran told reporters here.

Besides Delhi, the product has also been launched in Chandigarh, Pune and Hyderabad.

''The current penetration in India is merely 2.5 per cent, providing a significant potential for market growth in the future.

Realising this opportunity, we decided to enter it,'' said Philips Division Head and DAP Rakesh Sharma.

Apart from India, Philips is also planning to enter into this sector in Russia and Brazil, he said.

On the sales target, Mr Sharma said that in next one to two years, the company is looking to achieve the leadership position.

To market the product, the company will take on experimental marketing. For this, experience centers will be set up in high traffic areas, he said.

The domestic appliances and personal care division of the Philips Electronics India Ltd grew at 19 per cent from the previous year.

The company recorded 36 billion dollars turnover in the year 2006-07, while two per cent of the turnover was registered in India, said Mr Sharma.

UNI