Bengaluru, India, October 20, 2015 – Renesas Electronics India Pvt. Ltd. today announced that it has received the Frost & Sullivan 2015 India Microcontrollers Competitive Strategy Leadership Award for its exemplary achievements in strategy, processes, and vision on October 7, 2015 at the Growth, Innovation and Leadership Awards Gala held in Mumbai. This award was presented in recognition for Renesas’ astounding work, innovation, and relentless efforts in the year 2014.
Frost & Sullivan’s Best Practices Awards recognize companies across a range of regional and global markets for superior leadership, technological innovation, customer service, and strategic product development. Frost &Sullivan’s industry analyst team benchmarks market participants and measures their performance through independent, primary interviews and secondary industry research in order to evaluate and identify best practices.
“We have aligned our strategies to focus on the Indian market needs since the formation of Renesas Electronics India Pvt. Ltd. in 2014, andwe have positioned ourselves as not just a semiconductor supplier but a solution provider”, said Sunil Dhar, President of Renesas Electronics India. “We have established ourselves as a trustworthy partner and will continue to provide the best solution for our customers with the highest quality and most advanced technology.”
Congratulating Renesas on the award, Satyajit Lele, Best Practices Research Analyst, Frost & Sullivan, said, “Renesas has achieved double digit growth in the past year and with its robust growth strategies, has exhibited great potential to emerge as a technology leader in India. The company has identified key target segments in the market, and with a view to serve a broader spectrum of customers, has invested in a new facility in Bangalore. The company has launched products that cut across a wide range of high-growth segments like automotive, industrial, and smart homes.”
Renesas has demonstrated an ability to identify customer needs and provide end-to-end India –centric solutions and aims to increase its MCU market share in India.
Lele further adds, “ The Indian electronics industry is now at US$95 billion and is expected to grow at almost 10 percent CAGR over the next 5 years with consumer, industrial, and automotive segments contributing to not less than 65 percent of the total market. Thus, Renesas’ strategic focus on the Indian market is likely to help reap rich dividends in future too”
