Panasonic India expands smartphone business to Sri Lanka
The company will cater to different consumer segments through products in multi-priced segments. The Sri Lankan market has massive potential for growth in the mobile phone industry and there is a huge untapped telecom consumer segment offering a favorable opportunity for Panasonic to establish itself as a credible force in this market.
Speaking on the occasion of the launch, Manish Sharma, Managing Director- Panasonic India and South Asia, said, “At Panasonic, we strive to bring together innovation with style and affordability, offering users a seamless experience on our devices. Having built an exhaustive and robust range of smartphones and feature phones in India, starting April 2013, our idea is to empower our customers across the spectrum by providing them with the right value options. With the entry into this market, our ultimate aim will be cater to all customer segments in the country and build a strong and robust distribution network in the country."
He added, "Panasonic has recently designated India as the sixth strategic region which will take care of SAARC nations, Middle East Asia and Africa. It is in line with this aim that we are today marking our entry in this region, given the huge market potential that exists in the country. We have also ventured into the Nepal smartphone market and Panasonic is looking forward towards building a stronger brand presence across regions."
Over the last five years, Sri Lanka has witnessed a surge in subscriber base driven by a combination of factors like increasing household incomes, expanding mobile network coverage and increasing competition between the mobile operators. With localization being a vital growth strategy, combined with strong core values, business philosophy and leadership principles, Panasonic aims to reach out to maximum consumers with its wide range mobile phones offerings.