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China-based consumer electronics firm TCL is aiming to garner a 7 percent share of the Indian TV market in 2022, helped by an expansion in retail footprint and the addition of newer models, said a top company official. TCL, which is also present in the air-conditioner and washing machine segments, is also planning to enter into the refrigeration segment next year.
Talking about the Indian TV market, TCL India General manager Mike Chen said it is one of the few markets globally that reported growth after the pandemic.
“The India TV market, putting online and offline together, is expected to be around 10 million units in 2022 and we are aiming for 7 per cent market share,” Chen told.
TCL on Tuesday expanded its TV portfolio by adding three new models of smart TVs — New Generation Mini LED 4K Google TV, Gaming QLED 4K TV and 4K HDR Google TV, priced between Rs 35,990 to Rs Rs 69,990.
Google TV is a software layer, or interface, running on top of Android TV.
“In India, we are the second one after Sony to launch Google TV,” Chen said, adding TCL aspires to provide world-class technology to its customers.
Over the Indian TV market, Chen said now the customers also looking for bigger screen sets. 43-inch size and 4K features are now standard.
“Now, even tier III and IV markets is a smart TV market and tier I market is looking for smart TV with premium features,” he said, adding, “I think, going forward QLED, OLED and min LED would become popular. These are fast-growing”.
The company is also expanding its sales network, focusing on offline channels. TCL has around 60 brand shops in India, mostly in the southern region and has plans to add more.
When asked about the expansion of the sales network, Chen said: “Until last month, our product was available at 10,600 shops and every month we have a target to expand it”.
TCL has a turnover of around Rs 1,400 crore.
When asked about the performance of other categories, Chen said it has got a good response in its washing machine segment.
However, in the air conditioner category, the performance is not very encouraging this season and sold only 50,000 units so far.
TCL has around 7 models in the washing machine segment and has 5 models of inverter split air condition, Chen added.
The company also plans to introduce a refrigerator in 2023, as the next part of the expansion of its product portfolio in the Indian market.
“Next year, we would have refrigerators. It is part of the strategy to add one product every year,” Chen said.
Besides the domestic market, TCL — which has invested around Rs 1,800 crore to set up a TV manufacturing unit at Tirupati — is also looking to tap the export market.
The company has already started manufacturing TV panels of 32 inches and 43 inches here.
“The plant has a capacity to roll out 8 million units TV panels, while India is only 10 million markets. We would start exporting panels to Europe and the US as the next step,” he added.
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