Philips eyes over 50% growth in India audio biz next year

NEW DELHI: Consumer electronics major Philips on Friday said it expects to see its audio business in India grow by over 50 per cent next year as it expands its portfolio and brings in more ‘Made for India’ products. Last year, Taiwan-based TPV Technology had received the rights for Philips’ TV range as well as audio products for the Indian market that includes aspects like manufacturing, marketing and sales.

“While we are resolving a lot of the old issues but at the same time in the last six months, we have managed to expand our retail presence and our audio products are present in almost 30,000-35,000 outlets…We expect to grow by more than 50 per cent within the audio segment next year,” Arun Menon, Country Business Head Philips Television and Audio, TPV Technology said.