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China-headquartered TCL Electronics plans to invest ₹20 crore in India in the second quarter of this year.
The company, which introduced a range of intelligent home products, including refrigerators, washing machines, and air-conditioners on Thursday, said that it will test the market and introduce more products specifically designed for India next year.
“We use this year to launch the products and test the markets,” Mike Chen, Country Manager for India, TCL, told BusinessLine . TCL will focus on its television business in India, where Chen said, citing external data, that the company currently occupies the fifth spot with 3.7 per cent market share. “By the end of this year, we want to become number four with a 7-8 per cent market share in TVs,” he said.
The electronics firm launched two new line-ups of its smart televisions, the largest of which comes with an 85-inch screen, and will launch a dedicated new line-up of TVs with Amazon Prime Video and the Alexa Voice Assistant built-in a month later. It has worked with Amazon on this TV segment.
Chen was optimistic about India being an important market for TCL as he expected it to grow further, thanks to the large population that can drive up demand for televisions. The company has been assembling its televisions in India since 2017 and manufactures its own panels. Chen said the company’s manufacturing capability helps it design products for India.
The company currently has 40-50 brand stores (partner-run stores) in the country and aims to increase this to 500 this year. Apart from brand stores, other focus areas for TCL’s investment include marketing, manufacturing and customer support and service.
Eight content providers — Hotstar, Eros NOW, ZEE5, Voot, Jio Cinema, Hungama Play, ALT Balaji, and YuppTV — have partnered with TCL to enable over 9.5 lakh hours of content on its televisions in 25 languages.
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