SPPL eyes to increase its market share in smart TVs segment to 8 pc by FY 2025 end, ET Retail

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Super Plastronics Pvt Ltd (SPPL), the exclusive brand licensee of Kodak, Thomson, Blaupunkt, and Westinghouse TVs in India, is eyeing to increase its market share from 4- 5 per cent to 8 per cent in the smart TVs segment by FY 2025 end, Avneet Singh Marwah, director and CEO, SSPL told ETRetail.

The Indian television market was dominated by Xiaomi in 2022, with more than 10 per cent market share, followed by Samsung and LG, according to market intelligence firm Counterpoint Research.

“By investing Rs 300 crore, we are opening our new fully-automated manufacturing unit in Hapur spanning across 3 lakh sq ft are and plan to increase its manufacturing capacity from 7 lakh units per year to 2 million units per year,” he said.

Apart from this, to capture, a bigger market share, the company is introducing innovative products keeping affordability in mind. It is focussing more on producing larger TV sizes and will not be launching any smart TVs below 43 inches.

“Next financial year is important for us as we will be entering into new television segments. We will be introducing the sizes that we have never launched and we will be using the kind of software and technology that will make the TVs further affordable,” he further added.

SSPL also has a direct Google license to manufacture Android TVs and it is working on future projects closely with Google.

Last fiscal, the company which clocked Rs 700 crore in revenue, is eyeing to clock Rs 900 crore – Rs 1,000 crore this fiscal and plans to take it to Rs 1,800 crore – Rs 2,000 crore by the next fiscal end.

Apart from this, according to reports, Oneplus and Realme are exiting from the Indian market.

“As handset makers Realme and OnePlus are planning to exit the Indian television market, we plan to take that place,” Marwah added.

The high cost of servicing TV panels in the country is stated as one of the reasons for them to exit the country.

“This is one of the reasons and not the main reason. This is an escape route that they have chosen. They thought that as the smartphone segment has grown in India from 50 million to about 300 million, they had the same view of the television segment. But for the last couple of years, it’s between 10 and 12 million smart TVs.” he elaborated.

“So, to acquire the maximum market share, they started burning money and started putting a lot of money on marketing and this wasn’t a very long-term strategy,” he added.