Philips forays into water purification mkt in India

New Delhi, May 2 (UNI) Aiming to tap the growing potential of the domestic water purification market growing at 14-15 per cent annually, Philips India today made an entry into the segment through 'Philips Intelligent'.

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

Besides Delhi, the product, priced between Rs 8,500 to Rs 12,500, has also been launched in Chandigarh, Pune and Hyderabad, Mr Ramachandran said.

''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 mulling to foray 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.

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