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Philips to target premium segment

Philips to target premium segment

Author | exchange4media News Service | Monday, Jan 01,1900 8:23 AM

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Philips to target premium segment

Philips India has drawn up major plans to increase its presence in the premium-end of the market. To achieve this the company will defocus on low value products and focus on market shaper or premium products.

According to company sources, the long-term objective is to move to the top two position, increase the regional average market share to over 10 per cent and to become a market shaper. In line with this strategy, the company has decided to roll out new technology convergence products within the next 12-18 months.

The products, which have been lined up for launch range from Pixel Plus range of flat televisions, audios, DVDs, LCD slim monitors and cellular phones.

In most of the regions where the company has been following this strategy, the marketshare and valueshare has increased despite a reduction in focus on low-end products. The company is moving from a product-driven firm to a customer solution-driven company.

The new Pixel Plus television range, which is advanced picture processing software and improves the picture quality, will be launched in India in July this year. The company also plans to commercialise flat screen television beyond the 15” segment by launching new variants between 15-50 inches.

The company has also developed a new LCD and liquid crystal on silicon (LCOS) display system for monitors. Early next year, the company will launch the world’s first blue tooth compatible detachable wireless monitor and projectors in India.

It will also introduce a new range of mobile phones — Fisio 820 — which is India’s first GPRS-enabled phone with colour display, within this year.

The company has already launched DVD recorder (DVDR 890) in India, which is priced around Rs 1 lakh, which brings together consumer electronics and computer environments. It allows consumers to record on DVD+RW or DVD+R disc and playback on nearly any DVD recorder.

In the audio segment, the company will unveil its loudest micromonster MC-77 by the end of the year and also the world’s first 6,000 watts Woox speakers.

In order to broaden the product offering in multiple online music services, the company will introduce Streamium, which will use broadband Internet access and allow the consumers to choose their online music, he added.

Source: Business Standard
Tags: e4m

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