Arjunn Bajaj , CEO and Founder , Daiwa
The Indian consumer electronics market has been witnessing sustained double digit growth rate since past few years. Increasing product knowledge, technological understanding, affordable prices, and most importantly high disposable incomes, have aided in the strong growth, in the consumer electronics market in India.
In terms of the LED TV market in India, the market has very recently adopted global trends from several front-running nations in this industry. Moreover, the gradual yet evident change in consumer preference has defined the dynamics of the market. The rising middle class in India favors innovative consumer electronics, including the flat panel display TV, which is becoming a smart TV with universal connectivity in an automated home of the modern man. Furthermore, the FPD TV market is witnessing a short replacement cycle due to technology drive. Despite a huge demand, local capabilities on the manufacturing front have remained limited due to absence of an evolved ecosystem. Though we see a boost in the manufacturing Industry with Make in India but there is an evident vacuum, which would see changes in future trends and government push toward Indian brands.
Fat to flat, TVs have always been a member of home appliances and the best source of entertainment. However, what makes consumers shift preference is not just the fall in prices but implanting the latest technology; which includes potential factors, such as screen sizes, resolution, connectivity options etc. These days grabbing consumers’ attention is defined by the technology; currently it is the trend of smart TVs, and UHD/4K LED TVs. The reasons for that are omnipotent platform visibility, inbuilt Android operating system applications, and the best part, elite processors to respond to every command promptly.
In addition to this, the product prices have been reduced drastically, while consumer preference for bigger screens has increased (preference shift from small-sized TVs to the large ones). The consumption pattern does not just dominate the Tier-I market, the pattern has also been adapted by Tier-III and Tier-IV markets, reflecting the need for quality products with value-added benefits.
Viewing the market trends now, apart from an enhanced integration of software which is very tangibly expected in the upcoming TVs, big-screens, rich in features with improved quality would be dominant in the years to come. A bright future awaits for FPD TV with it now becoming an omnipotent device.
Daiwa’s parent company, Videotex is one of the leading OEMs for LED TVs, being a true synonym of quality and affordable prices. Bringing the same philosophy, Daiwa a Make in India brand has recently entered the Indian market, encouraging domestic brands to establish a foothold in the TV market where there are hardly any Indian players dominating.
The company is steadfastly expanding its product line and moreover with the trends, extends its line of categories. Daiwa, which currently has been ranked among top five brands under affordable TVs now aims to embrace the skills to diversify into varied categories, which also includes entering the consumer durables business.
Videotex undoubtedly is acknowledged in this dynamic yet incorporated market for its products offerings and prudent prices. With various competent brands and already established brands in the market, the dimensions of the race are redefined to the dogma of improved tech, less price. Future projections are the might to prove, how expeditiously the Indian TV industry has progressed.
To summarize, Videotex which delivers thoughtfully designed products; tailor-made for the Indian market redefines the way to conduct everyday business and elevates entertainment.