Super Plastronics Pvt Ltd (SPPL), a TV manufacturing company having licenses of several global brands, expects to have around 8 per cent market share of the smart TV market in the next two years, said director and CEO Avneet Singh Marwah.
The company has a portfolio of five global brands, operating in the TV and appliances segment, which includes – Thomson, Kodak, Blaupunkt, White-Westinghouse and White-Westinghouse (Trademark of Electrolux).
SPPL, is increasing manufacturing capacity from the current 7 lakh units to 2 million units annually with its upcoming greenfield manufacturing facility at Hapur, in Uttar Pradesh, where it is investing Rs 300 crore to set up a fully-automated plant.
“We are aiming to generate a revenue of Rs 1,200 crore in the current financial year 2023-24 and Rs 2,000 crore in the next fiscal,” Marwah told PTI.
In FY 2022-23, SPPL had a revenue of around Rs 700 crore and sold 4.5 lakh units of smart TV.
Currently, SPPL is getting the highest contribution of around 45 per cent from Thomson, a French brand.
“SPPL along with brand Thomson, is now eyeing to capture 8 per cent market share in the smart TV segment in the coming 2 years,” he said.
The Indian TV market is estimated to be around 11 million units, however, it has reported almost flat growth in the last two years.
According to the latest report from Counterpoint Research, India’s smart TV shipments are expected to decline 7 per cent in 2023, on account of factors such as inflation and other macroeconomic headwinds in the country.
In the first half of 2023, Smart TV Shipments in India witnessed a decline of 5 per cent, the report said, adding now Smart TV’s contribution to overall TV shipments was over 91 per cent.
The smart TV market is currently led by Xiaomi with a 10 per cent share, followed by Samsung at the second spot besides others.
According to reports, Oneplus and Realme are exiting from the Indian market and SPPL wants to fill in that slot, Marwah added.
When asked about the festive sales this year, Marwah said this time it is coinciding with the ICC Men’s Cricket World Cup, which will create a surge in the demand for big screen TV sets.
The company aims to sell around 4 lakh units during this festive season.
“We estimate a spike of more than 35-40 per cent in large screen sizes, as it will be telecasted in FHD and 4K as well. This will be the biggest World Cup in terms of viewership in India, as the OTT platform has decided to make it a free subscription for a couple of matches,” Marwah said.
The Indian TV market is witnessing premiumisation with large screen sets and catching up with the trends, SPPL will from next year “focus only on large screen TVs of 43 inch and above and launch never before seen screen sizes, he added.
The company is known for its affordable price points in the smart TV market, which are operated through Android TV and Google TV – developed by Google for TV sets.
“SPPL has a direct partnership with Google and does all our research, development and testing in-house without depending on any third-party vendor, it helps us to check costs and the benefit is passed on to the consumers, said Singh.
The company has also introduced a range of automatic and semi-automatic Washing Machines, under White-Westinghouse, an American home appliance brand in the Indian market.
The company gets around 75 per cent of its sales from online channel partners such as Flipkart etc and the rest 25 per cent comes from offline channels, where its products are sold through over 2,000 points of sale.
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