Philips is all set to make a comeback with its television range into the Indian market after a gap of almost one year as its Taipei, Taiwan-based brand licensee TPV Technology is introducing around eight models here next month. TPV Technology, which has global rights for TV range of the Royal Philips, has also got brand license for the Indian market after Philips’ earlier licensee partner Videocon Industries stopped production following financial woes.
Riding on the high brand value of Philips among the Indian consumers, TPV Technology is aiming to be among the top five brands here in the TV segment and capture a market share of 6 to 8 percent by December 2020. “We have plans to launch 7-8 models starting with 22-inch and 24-inch category and going up to the 65-inch category, starting mid-December 2018,” Philips Television and Audio Country Business Head Arun Menon.
It has also plans to introduce OLED 903, a flagship Philips OLED TV, in the July-September quarter next year. “All models that are being launched in India are available in the market globally as well,” he added. The company has partnered Dixon Technologies for local assembly for Philips range of TV and is also aiming for local manufacturing in the longer term.
TPV Technology is already selling audio products under Philips brand here and would leverage its existing retail network for its Philips TV range, he added. “We have an overall retail present across over 35,000 stores with more than 200 distributors. Most of them are also selling TVs and we would approach them,” Menon added.
TPV Technology has currently over 200 service centers and has plans to expand to 500 by the end of 2019. TPV is one of the largest manufacturers of monitors and LCD/LED TV globally with its own brand AOC and OEM for large global brands. It owns exclusive trademark license to sell Philips brand television in most parts of the world since 2011 and acquired the license for televisions in India in 2018.— The Financial Express