Indian smartphone major Micromax is entering the smart television space with its brand of “value-for-money” offerings. The company has announced three new smart TV models priced between Rs 20,000 and Rs 42,999.
Micromax has been selling flat panel televisions for over three years now and sold 1.25 million LED TV units last fiscal.
The opportunity is immense if you look at it from Micromax’s angle. “There are 114 million CRT televisions still in India households. A lot of them are waiting to refresh, so are those who have older plain vanilla LCD flat panels,” explains Sunil Dutt Sharma, business head of consumer electronics.
By offering a 50-inch Full HD LED smart television for Rs 40,000, the company hopes it will be able to expedite this decision for a lot of users. The company has also announced 32 and 40 inches television under its Canvas series, with the former sporting a 720p HD display. Micromax claims it had a market share of 9% in the segment till March 2016 and is planning to end this fiscal at 12%. The TV business already rakes in around 11% of the company revenue and the target for this fiscal is 15%.
Having launched air-conditioners a few months back, the company wants consumer electronics to account for a quarter of the overall revenue. The company is eyeing a 5% share of the smart TV pie as well. However, the competition is tough. While Chinese company Le Eco have just launched a very affordable 4K smart television, there are others like Kodak and BPL waiting in the wings with more units.
Micromax’s Android-based operating system will offer customisation as well as curated apps. The company also plans to offer content in the near future, says Rohan Agarwal, vice-president of consumer electronics, adding that it is also also evaluating the scope of 4K ultra high definition televisions in the next wave.
The new televisions will be available for pre-booking on Flipkart with the first shipments expected around August 13. All televisions are manufactured at the company’s Rudrapur factory, which has a daily capacity of 5,000 units. The company is planning to invest Rs 2,000 crore on manufacturing over the next five years.