Avneet Singh Marwah, CEO of Super Plastronics which has the brand licensee of Thomson said that the company started importing Andriod TVs in India from China last year and looking at the great response it received, Google has decided to give it the license to manufacture Andriod TVs end to end in India.
Vu has also exited the basic television range in India. However, Saraf said by value the company will either hold onto its 2018-19 revenue of Rs 1,000 crore or may report slight grow since television prices have dropped last year across the range due to drop in global panel prices.
Industry executives said consumers shifted to consuming content on their smartphones and postponed upgrade of their existing television sets in urban and semi-urban areas with the popularity of over-thetop (OTT) services like Netflix, Amazon Prime and Hotstar. In rural India, poor sentiments largely impacted demand, much like most other consumer goods.
The absence of a robust homegrown electronics ecosystem is hurting the ambitious targets set by the Indian Space Research Organisation (Isro), which has lined up more than 60 missions over the next five years. These include building new generation communication and earth observation satellites, heavier rockets, return missions to the moon and Mars, and its first human space flight endeavour.
The company, which introduced new range of TV and air conditioners for Indian consumers, also plans to enhance its presence in the smaller cities and towns in the country to increase its overall market share. The company currently only caters to TV and AC segments in the country. The company sold 3 lakh TV units in 2018 and have closed last year with 10 lakh units.
ET had reported last year November about Samsung and Dixon entering into an agreement for local production of television sets in the country. This was after the government scrapped 5% import duty on open cell TV panels last September.
LG said it will showcase eight TVs, with new 77 and 65-inch class models, at CES that kicks off on Tuesday in Las Vegas, Nevada, Yonhap news agency reported. The new TV models are additions to LG's existing 88 and 75-inch screen sizes in its OLED and NanoCell TV lineup. Billed as the next big thing in the TV market, 8K TV offers four times the number of pixels of a 4K UHD screen and 16 times that of a full HD screen.
As per the reports, brands like Daikin and Hitachi have started to enter into the mass-market AC segment with pricing as their weapon. Samsung too has recently indicated its intention to enter this category. The report said despite strong industry growth and low channel inventory, AC prices this month further dropped by around 1% from the low levels of April 2019.
Manufacturers and retailers say the season begins after Diwali and peaks when pollution is in the headlines in newspapers and television. Once these fade, sales subside. The market is worth Rs 200-230 crore, growing at about 15-20% annually, with over 50 brands jostling for business, making this one of the most populated electronics categories in the country.
The Manufacturers’ Association of Information Technology (MAIT), apex body of electronic product makers, has urged the government to restore the 4-5% incentive under the Merchandise Exports of India Scheme (MEIS).