Targeting a $1 billion market opportunity by 2020, Toshiba has entered the fast-growing Indian audio products segment. The Japanese firm has introduced a range of products that include wired and wireless earphones, gaming headset, portable speakers, sound bars, portable CD players, CD/USB radios, packet radios and micro component system. It has appointed TeknoDome, a leading distributor of consumer electronics in Middle East and CIS market, as its authorised importer of audio products for the North India market.
Santosh Varghese, vice-president of Toshiba Gulf FZE (a subsidiary of Toshiba Corp, Japan), told FE, “For Toshiba audio products, India is a strategic growth market which is estimated to reach $1 billion mark by 2020. There is a strong demand for audio products here, fueled by the rapid expansion of the mobile phone market. The Indian consumer is price-conscious yet value conscious, looking for high technology products at decent price points. We want to deliver high quality products at good value for audiophiles here.”
According to Varghese, Toshiba has a strong brand recall in India as a world-class technology company.
“We want to capitalise on this image. The audio market is highly competitive with numerous players; however I do not think we are late in foraying into the Indian market. We will focus our efforts in building a strong retail and dealer segment here. Our products will be available both online as well as offline. We will also establish a robust service and support network in the country.”
The RZE series of headphones and earphones includes Gaming Headset (with virtual surround software), foldable wireless and wired headset, True wireless Bluetooth Earphone, Wireless Magnetic and Wired Earphone. The Bluetooth speakers TY-WSP21 is extremely lightweight and water and splash proof resistant and the other two portable speakers—TY-ASC60 and TY-ASC400 have 60W and 400W output respectively. All audio products and accessories will be made available by TeknoDome through a network of retail chains, distributors, online e-tailers across pan-India.