TCL is targeting 7pc of Indian TV market share this year; enter the refrigeration segment next year

China-based consumer electronics company TCL is aiming for a 7% share of India’s TV market in 2022, helped by expanding retail footprint and adding new models, a senior has said. company manager.

TCL, which is also in the air conditioner and washing machine segment, also plans to enter the refrigeration segment next year.

Speaking about the Indian TV market, TCL India Managing Director Mike Chen said it was one of the few markets in the world that saw post-pandemic growth.

“The Indian TV market, combining online and offline, is expected to reach around 10 million units in 2022 and we are targeting a 7% market share,” Chen told PTI.

TCL expanded its TV portfolio on Tuesday by adding three new smart TV models – New Generation Mini LED 4K Google TV, Gaming QLED 4K TV and 4K HDR Google TV, priced at Rs 35,990 to Rs 69,990.

Google TV is a software layer, or interface, that runs on Android TV. “In India, we are the second after Sony to launch Google TV,” Chen said, adding that TCL aspires to provide world-class technology to its customers.

In the Indian TV market, Chen said customers are also looking for bigger screens. The 43-inch size and 4K features are now standard.

“Now even the Tier III and IV markets are a smart TV market, and the Tier I market is looking for a smart TV with high-end features,” he said, adding, “I think at In the future, 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 branded stores in India, mostly in the southern region and plans to add more.

When asked about expanding the sales network, Chen said, “Until last month, our product was available in 10,600 stores, and every month we aim to expand it.”

TCL has a turnover of around Rs 1,400 crore. Asked about the performance of other categories, Chen said he got a good response in his washing machine segment. However, in the air conditioner category, the performance is not very encouraging this season and has only sold 50,000 units so far.

TCL offers about 7 models in the washing machine segment and 5 models of inverter split air conditioners, Chen added. The company also plans to introduce a refrigerator in 2023, as the next step in expanding its product portfolio in the Indian market.

”Next year we will have refrigerators. It’s part of the strategy to add a product every year,” Chen said.

Apart from the domestic market, TCL – which has invested around Rs 1,800 crore to set up a TV manufacturing unit in Tirupati – is also looking to tap into the export market. The company has already started manufacturing 32-inch and 43-inch TV panels here.

“The factory has a rollout capacity of 8 million units of TV panels, while India only has 10 million markets. We would start exporting panels to Europe and the United States as the next step,” he added.

(This story has not been edited by the Devdiscourse team and is auto-generated from a syndicated feed.)