BANGKOK, NNA - Japan's Panasonic Corp. is aggressively promoting television sales in Thailand by launching ultra-high-definition 4K and 55-inch and larger screen models amid the growing popularity of such premium products.
Its local sales unit, Panasonic Siew Sales (Thailand) Co., said it is launching 20 models between July and August to achieve a sales target of 4.5 billion baht ($138 million) in the current business year to March 2019, up 76 percent from the previous year.
Of the 20 models from a total of 11 series, 14 models are 4K while 55-inch and larger models are from a majority of the 11 series, the local arm said, adding the premium models carry price tags of up to 125,990 baht.
"We will increase our product lineup of 4K and large-sized models because their sales are growing in Thailand," Takashi Sasaki, director of the local unit's consumer and corporate planning divisions, said at a recent launch event in Bangkok.
The Japanese electronics giant's local unit aims to boost its TV market share in the Southeast Asian country to 15 percent in fiscal 2018, up from 9 percent from a year earlier.
Panasonic is ranked third in the market after South Korea's Samsung Electronics Co. and LG Electronics Inc., industry officials said.
The Thai TV market is projected to grow 5 percent from a year earlier to 29.7 billion baht this year, according to German research firm GfK, as cited by the Japanese firm.
The ratio of 55-inch models in the overall market is expected to rise to 23.2 percent to become the largest category by screen size this year, closely followed by 40 to 43 inches at 23 percent.
GfK also forecasts that 4K models will account for 55 percent of the Thai TV market this year, topping non-4K types for the first time. (NNA/Kyodo)