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Philips expects 10 pc share in CTV market next year

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Philips expects 10 pc share in CTV market next year

Philips had posted encouraging results in the CTV segment during the last three years.

PHILIPS Electronics plans to emerge a top-three player in the CTV segment next year and increase its market share to over 10 per cent.

Philips Electronics brand manager, Mr Mrugesh Gaglani, told newspersons on Thursday that currently Philips was the fifth largest player in the CTV segment with a market share of 7.5 per cent; LG Electronics is leading with 25 - 30 per cent.

He said that in the audio category, however, Philips leads the market with 45 per cent share.

"In the audio segment we want to maintain our share next year, too, through newer price points and products," Mr Gaglani said.

He said in value terms, the audio segment presented a Rs 600-crore market. Though the audio segment was fragmented, the DVD player market grew to 43 per cent from 8 per cent last year. But the VCD-mini market dropped to 45 per cent from 80 per cent last year. In the DVD-mini player category, Philips was the second largest player with a market share of 32 per cent compared with Sony's 41 per cent.

Mr Gaglani said Philips had posted encouraging results in the CTV segment during the last three years.

It had climbed from ninth in 2003 to the fifth position. "We focus more on picture clarity which has led us to increase our market share," he said.

He said Philips was focusing more on high-end CTVs as this not only adds value to the brand but also increases profitability. "While the low-end gives us volumes, it is the high-end which gives us a lot more value to our brand image," Mr Gaglani said. CTV segment is a Rs 3,000-crore market. Mr Gaglani said Philips would launch more branded stores next year, taking the number of its `arenas' from 42 to 100 by the end of next year.


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