Premium television brand Vu Technologies today announced reaching Rs 1,000-crore revenue mark for the year ended 2018-19. Vu, which claimed to be India’s highest selling 4K TV brand said that it has achieved another ‘milestone’ of selling over 1 million TVs across India in FY19. The company competes against Samsung, Xiaomi, Sony, Panasonic etc. in the Indian market.
Vu said that it will focus on its Vu VOD (Video On Demand) Upscaler technology ahead. The VOD Upscaler will improve the picture quality of the VOD content.
“We are driven to bring advanced, cutting-edge innovation in entertainment technology globally. To the same end, clocking in Rs 1,000Cr in revenues is a strong validation for our endeavor vision,” said Devita Saraf, Chairman and CEO, Vu TV in a statement. Vu focuses on high net worth individuals and young professionals as its customer base.
The company on Thursday also announced three new products — Vu Pixelight TV, Vu UltraSmart TV, and Vu Premium Android TV with a price range of Rs 14,500-72,000. The TVs comes along with licensed Netflix, Amazon Prime, and YouTube apps.
“Smart TVs in India are expected to grow from 10-12 million in 2018 to 20 million by 2020 according to industry estimates. This clearly indicates that consumers increasingly want an incredible viewing experience on a big screen in their home with easy access to their favorite content,” said Abhishek Nag, Director- Business Development, Netflix India.
In FY 2018-19, Vu claimed of ‘installing’ 1.5 million TVs across India to become the highest selling 4K TV brand. Last year, it launched the world’s largest television — Vu 100. The company, without disclosing the figures, said that in 2018 Samsung, Sony saw a negative 3 percent growth even as Vu grew by 28 percent. It also claimed of being the 4th largest TV brand in India, overtaking Panasonic in 2018.
Vu was launched in 2006 by Saraf who initially worked with her father Rajkumar Saraf at his company Zenith Computers.―Financial Express