Hitachi Home Electronics (S) Pte Ltd Singapore is betting big on its growth path in India. In line with this strategy, Hitachi on Wednesday launched a 42-inch plasma television in the Indian market. Priced at Rs 2 lakh, the 1080 HD is equipped with the AliS technology.
The 1080 HD plasma TV will be sold through seven Hitachi galleries located at Delhi and 120 dealers across the country.
Speaking at launch, Tadashi Nishiuchi, Managing Director, Hitachi Home Electronics Asia, said, “The sustained high GDP growth of India has made it a focus market for Hitachi. A related trend is that the Indian market is fast maturing with consumers becoming increasingly discerning and technology savvy. This presents an opportunity for Hitachi, which is world renowned for products that are high on sophistication and innovation.”
The company currently has a 17 per cent share of plasma TV market, up from 13 per cent last year. Hitachi aims to hike its share of this market to around 20 per cent by 2008.
Speaking about the company’s growth path in India, Tarun Jain, Country Head, HHES, said, “Hitachi will soon be launching a slew of other cutting edge products in India. Next in line is Hitachi’s sixth generation DVD camcorder that has many firsts to it. With the introduction of such top of the line products, we hope to capture a significant share in the rapidly expanding high-end Indian consumer electronics market. We are aiming to capture 20 per cent, 10 per cent, 30 per cent and 15 per cent of the plasma TV, LCD TV, DVD camcorder and LCD projector markets, respectively, by 2008.”
Echoing the same, T Haruki, Deputy General Manager, HHES, said, “HHES has experienced strong year-on-year growth of 150 per cent over last year. Giving a further impetus to this will be an aggressive brand building exercise, which will be driven by an advertising and promotion spend of Rs.12 crore dedicated to plasma and LCD televisions in 2006-07.”