New Delhi: French consumer electronics brand Thomson, through its brand licensee Super Plastronics Pvt Ltd (SPPL), on Thursday announced its foray into the Indian audio market with the launch of sound bars here.
Thomson, which is already present here in the television and other home appliances segments, also plans to expand its presence in the audio segment by launching more products in the sound bar and entering the larger segment of speakers and party speakers, said SPPL CEO Avneet Singh Marwah. .
As part of SPPL, he has invested Rs 50 crore to set up a new manufacturing unit at his existing Noida plant, which will produce half a million units in a year, he added.
"Our goal is to have a 10 percent market share of the audio segment on online channels," Marwah said.
According to Marwah, the Indian audio market is experiencing rapid growth. Sales of products such as sound bars have increased following a rise in sales of 4K smart TVs and growing consumption of OTT content.
"Now 85 percent of customers who buy TV online also look for sound bars and around 50 percent end up buying them," Marwah added.
Now the company will take advantage of those segments by offering combined offers with TV.
"We will sell (sound bars) separately or also bundled with a new TV. It will have an 'add to cart' option. Customers will have both options," he added.
Initially, the company will rely heavily on component imports, but would increase the rate of backward integration by increasing the proportion of domestic value added.
However, he also clarified that Thomson has no plans to enter the personal audio segment like headphones etc.
According to a recent report by GFK, the Indian audio devices market is witnessing "remarkable growth" as offline retail sales reached mobile annual turnover (MAT) of Rs 5,000 crore by June 2024.
Indian consumers have a "huge appetite" for audio devices and are looking for a cinematic experience and comfortable listening. The growth is driven by the rise of immersive sound technologies, improved consumer experiences and increasing demand for high-quality audio products.
Besides Thomson, SPPL has licenses for international brands, including Blaupunkt, Kodak and White-Westinghouse, for the Indian market.
Thomson, which is already present here in the television and other home appliances segments, also plans to expand its presence in the audio segment by launching more products in the sound bar and entering the larger segment of speakers and party speakers, said SPPL CEO Avneet Singh Marwah. .
As part of SPPL, he has invested Rs 50 crore to set up a new manufacturing unit at his existing Noida plant, which will produce half a million units in a year, he added.
"Our goal is to have a 10 percent market share of the audio segment on online channels," Marwah said.
According to Marwah, the Indian audio market is experiencing rapid growth. Sales of products such as sound bars have increased following a rise in sales of 4K smart TVs and growing consumption of OTT content.
"Now 85 percent of customers who buy TV online also look for sound bars and around 50 percent end up buying them," Marwah added.
Now the company will take advantage of those segments by offering combined offers with TV.
"We will sell (sound bars) separately or also bundled with a new TV. It will have an 'add to cart' option. Customers will have both options," he added.
Initially, the company will rely heavily on component imports, but would increase the rate of backward integration by increasing the proportion of domestic value added.
However, he also clarified that Thomson has no plans to enter the personal audio segment like headphones etc.
According to a recent report by GFK, the Indian audio devices market is witnessing "remarkable growth" as offline retail sales reached mobile annual turnover (MAT) of Rs 5,000 crore by June 2024.
Indian consumers have a "huge appetite" for audio devices and are looking for a cinematic experience and comfortable listening. The growth is driven by the rise of immersive sound technologies, improved consumer experiences and increasing demand for high-quality audio products.
Besides Thomson, SPPL has licenses for international brands, including Blaupunkt, Kodak and White-Westinghouse, for the Indian market.
