China-based consumer electronics firm TCL Electronics is aiming for a 25 per cent growth in the Indian TV market by selling around one million sets in 2021, a top company official said.
Besides, TCL is also foraying into the refrigerators segment by launching it in select markets next year, as part of expansion of its cooling product portfolio here.
TCL, on Wednesday, launched C-series TV expanding its lineup of QLED 4K Android TV.
“We are top five TV brands in India and in 2020 we sold out 8 lakhs units. With this launch we are expecting to reach or maybe go a bit beyond 10 lakh units,” TCL India General Manager Mike Chen told PTI.
Last year, TCL received 25 per cent sales of its TV panel through e-commerce channel partners and expects the contribution from online platforms to go up in coming years, he said.
“In 2020, we had sold around 25 per cent TV through online sale channels,” Chen said adding that in 2021, he expects the contribution from online sales of around 30 to 35 per cent.
According to him, now the usage of TV has changed after the pandemic and subsequent lockdown and work from home culture. “… a lot has changed, people now not only want a TV for content purpose but also for interactions- especially, WFH and school-from-home and more,” Chen added.
Last year, TCL, entered into the home appliances segment, and plans to expand its range and portfolio, he added.
“This year we are focusing on ACs. Our Ultra-Inverter AC and we also launched Ocarina a new series of AC in March, very soon you will find our washing machine in the market. For refrigerator our focus will be from next year,” Chen said.
When asked whether the company plans to foray into any other major appliance category segment, Chen said TCL would like to focus on existing TV and AC business with some attention to washing machine.
“As of now, we are going to focus on expanding our TV business and AC business and of course a certain section of attention to washing machine,” he said adding “we want to create a steady benchmark as a technology brand, unlike other brands we don’t want random launches, we want to give Indian customers quality products”.
The company also plans to add more TCL brand stores, expanding its offline presence further into the country.
TCL, which is investing over Rs 2,400 crore in setting up an LED panel factory in Andhra Pradesh, expects its assembly lines to start by Q4 this year.
According to Chen, the incentives offered by the government under the Production-Linked Incentive (PLI) scheme would boost the domestic manufacturing sector. It has partnered with local manufacturers such as Mirc Electronics, Dixon technologies and BPL to support the same, he added.
“The names are Mirc Electronics, Dixon technologies, BPL, also our own factory in Tirupathi is partially functioning and expecting by Q4 it to be starting with assembly lines,” said Chen.
According to a joint report by industry body CEAMA and Frost & Sullivan, the Indian TV market is expected to grow to 284 lakh units in 2024-25 from 175 lakh units in 2018-19. PTI