Panasonic India enters digital imaging segment

New Delhi, Oct 12 (UNI) Panasonic India today made an inroad into the digital imaging segment with the launch of a series of digital still and video cameras and said it will capture 10 per cent of the market share in this sector over the next two years.

''We are foraying into this segment in the country with rolling out of digital still and video cameras to bank on the booming Indian economy'' Panasonic India Chairman Hidenori Aso told reporters here.

The company intends to acquire 10 per cent of the market in digital imaging sector by 2009. Currently, the country sells 1.2 million units of still and video cameras every year, he added.

Panosonic India today unveiled the Lumix range of digital still cameras priced between Rs 9,490 and 29,990 and Ecam range of digital video cameras priced between Rs 14,990 and Rs 69,990.

The company has entered into sales and distribution agreement with MCC Group to roll out its product across the country.

''MCC Group has a tie-up with 3,800 retailers across the country and has two distributors in each state,'' WCC Group Chairman Pran Mehta said.

The launch is part of company's plan to spend two million dollars in this month for boosting the Panasonic India'a sales.

''We will focus on advertisements in various newspapers to augment our sales in this Diwali season,'' said Mr Aso.

The company aims to achieve a turnover of 100 million dollars by 2007-08 and raise it to 150-160 million dollars in 2008-09, Mr Aso.

The company clocked a turnover of 50 million dollars last fiscal.

To strengthen its presence across the country, the company plans to increase its franchisee outlets to 100 from current five by the end of next year.

Panasonic India also plans to roll out SLR cameras by early next month, Mr Aso said.

UNI