Panasonic, which is a Japanese Corporation is now looking to diversify into the Internet Of Things(IoT)category in the mobile segment in India with the launch of new products such as the location trackers while even continuing its efforts to create a complete IoT products ecosystem which also includes the mobile handsets and earphones.

“We largely focus on both IoT and (artificial) intelligence (AI). We want to create an ecosystem of smart connected and energy efficient products. The global push is also in the direction of AI… soon, there will be significant diversification of product category, in the mobility domain,” Panasonic India president Manish Sharma told ET in a recent interaction.

The company also has a plant to develop the new IoT products and solutions which is based on the Artificial Intelligence at its newly launched in India Innovation Centre in Bangalore. For the entire center, it has also lined up with an investment of around Rs 240 crore in around five years. “A part of this investment will be utilized for solutions of mobile phones like Arbo,” said Sharma.

The company is also aiming to work with the pool of developers and form the tie-ups with the latest technology innovation companies to build up the Artificial Intelligence specific solutions and the IoT products in India.

“We are looking for partners. It would be extremely difficult for any organization, not only Panasonic, to look at these kinds of developments in isolation… However, the core technology has to come from your side,” said Sharma.

Currently, the handset business accounts for about 10% of the total revenue Panasonic India earns from consumer appliances. It sells 1.5-1.6 million devices annually.

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