Panasonic Launches Eluga U Smartphone At Rs 18,990; Eyes 5 Per Cent Market Share

Panasonic Launches Eluga U Smartphone At Rs 18,990; Eyes 5 Per Cent Market Share

Thursday, 31 July 2014, 09:57 Hrs
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New Delhi: Japanese tech giant Panasonic launched its new 'Eluga' series of Smartphones in India with the unveiling of 'Eluga U', priced at Rs 18,990.

Panasonic, which entered the country's Smartphone market last year, aims to garner five per cent share of the Indian multi-billion dollar Smartphone market.

"We will launch 15 Smartphones and eight feature phones this year... we believe there is still an audience for that, but the focus definitely is on Smartphones," said Panasonic India Managing Director Manish Sharma. 

He said that the company would launch devices across price points. However, "the sweet spot would be between Rs 16,500 to Rs 20,000," Sharma added.

The managing director told that the company was looking at aggressively expanding its portfolio in the country to take its market share to 5 percent in the next one year. The company claims to have about three per cent share currently.

Panasonic also declared India as the headquarters for its handset business. "India is a very important market and that is the reason why it is also the headquarters for the phone business for us. There is a huge opportunity here for companies like us, who want to offer quality products at right prices," Sharma said.

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Source: PTI

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