Bangalore: Bullish on the Indian market, National Panasonic India, a wholly-owned entity of Japanese major Matsushita Electric Industrial company, is tracking a turnover growth of over 55 per cent in the current fiscal, and plans to launch three new cellular phone models in the country soon.

National Panasonic India reported a turnover of Rs 350 crore for 2002-03 and the first six months (April- September 2003) indicated that it's on course to achieve its target to clock Rs 550 crore for this financial year, officials said.

According to Ajay Sarode, who is in-charge of Marketing of the company's Systems Product Division (SPD), the company would launch three cellular handset models in the next two to three months.

Sarode told reporters, the company, which catered to the premier segment of the cellphone market, would come out with a "basic" phone model, priced below Rs 5,000, next year.

Of the Rs 350 crore revenue last year, Rs 100 crore was contributed by SPD and the remaining by the consumer products division, officials said, adding, the SPD is all set to double its turnover in the current fiscal.

Earlier, Panasonic unveiled its "Destination Worksmart" campaign and demonstrated its new range of office automation products including super hybrid IP PBX communication systems and multi-functional device Digital Imaging Systems.

PTI