Taiwan-based electronics goods major AOC International plans to do for India in LED televisions what Japanese-born Chinese brand Akai did in the old CRT televisions by making it significantly affordable for a mass market.
The $12-billion Hong Kong stock exchange listed company is looking to cash in on Indians' growing fondness for low-cost LEDs. On the cards are 24 warehouses and 20 branch offices across India and a R100-crore marketing blitz over the next six months.
AOC offers the latest LED technology-based TVs starting as low as R7,000 whereas leading brands such as LG and Samsung sell the product with comparable specifications at more than twice the amount. However, Korean electronics giant LG also announced recently that India will be a manufacturing base for its low-end LED TVs and said these would be priced below R10,000.
AOC is eyeing India as one of the big-focus countries for the product.
The company has also chalked plans to achieve a turnover of R850 crore by the end of this year against R160 crore in the last calendar year.
"Growth in turnover will be driven by aggressive product marketing at selected geographies for which we have planned to spend R100 crore in the next 6 months," said Seema Bhatnagar, director, sales and marketing, India & SAARC countries, AOC.
The cathode ray tube (CRT) screen market, once a traditional favourite, has been moving fast towards LCD and LED TVs. CRT sets, which currently account for half of the TVs sold in India, saw volumes decline by 40% last year as flat panel sales moved up, industry estimates show.
Back in the nineties, Akai shook up the Indian TV market by betting on the transition from black and white TVs to colour TVs.
It also played an aggressive game in cut-price colour TVs, pricing below the psychologically crucial mark of R10, 000 and backing it up with enticing promotional offers and freebies.