German consumer electronics brand, Blaupunkt is eyeing a turnover of over Rs 700 crore in India this fiscal, led by growth in demand for its personal/home audio products and LED TVs.
Present in the India market for over two decades with its car audio business, Blaupunkt introduced its personal/home audio products into the country in 2017 followed by its range of smart and standard LED TVs made in India, in September 2018.
On a recent India visit, Andrzej Cebrat, Managing Director, Blaupunkt said the company is continually growing and is on track to reach its targets in India. Without disclosing current India revenue, he said “While Blaupunkt is growing by 20 percent globally, in India it is growing at 30 percent. That is why India is so important to us. We expect to achieve a turnover of Rs 700 crore this fiscal and Rs 3,000 crore in the next five years” he said.
Pointing out that the Indian electronics market is expected to grow at a CAGR of 24.4 percent to reach $400 billion by 2020 as per IBEF, he said “Audio products have a notable share in this electronics market in India, especially in metros and tier-II cities. A recent survey has revealed that India has touched the mark of 1 billion smartphones, and with that, the demand for mobile accessories has also arisen.”
The company which competes with JBL, Philips, Skullcandy and Sony, sells its TVs primarily through Flipkart and its Audio products on Amazon. Its car audio products are sold through the offline channel market. The company also sells its products offline in stores like Croma and Vijay Sales and has corporate customers like Acer, Tata, Maruti among others.
Blaupunkt’s revenue in India at present is mainly led by the TV and Audio product categories. While Flipkart contributes around 50 percent of Blaupunkt’s total sales in India, its pan India reach and new customer reach is led by its Audio products sold through Amazon.
Cebrat said the company plans to expand its footprint in South America and Asia and launch new categories of products in e-mobility and smart homes with a focus on bringing Alexa and Google Home enabled products. “In India, we will be bringing our global offerings especially in the mid-premium and premium categories. Blaupunkt specifications are aimed at a separate set of customers different from any other brand and we also look to partner with various offline and online stores to strengthen our customer outreach.”―The Hindu Business Line