Date:22/03/2005 URL: http://www.thehindubusinessline.com/2005/03/22/stories/2005032202540400.htm

Back Philips may invest more in India

Our Bureau

Thiruvananthapuram , March 21

PHILIPS India Ltd is planning to increase the number of its brand shops, styled "Arena", to 100 across 50 cities in the countries by the end of this year.

Mr Shivakumar, Executive Director and Senior Vice-President, Consumer Electronics, Philips India, who was here to launch the first Arena shop in the city and the second in Kerala, said that Philips was growing ahead of the market growth in consumer electronics. The division accounted for 45 per cent of the company's total turnover last year, he said.

He said the TV market in the country was growing at 8 per cent by volume and 1 or 2 per cent in value terms. The Philips' market share was around 7.5 per cent, he added.

He said the company would make more investments in the country in the coming years. However, it has no plans to start manufacturing mobile phones in India; instead it might tie up with some company for the purpose.