Manoj Kumar , Sr. General Manager (Sales and Marketing) , Super Cassettes Industries Private Limited
The Indian television industry has undergone significant changes in recent times. In the television industry, penetration of flat panel displays has been huge with wall-mounted televisions now accounting for a major chunk of the market. Modern televisions present a stunning improvement on quality and immersive experience. The rising middle class in India favors innovative consumer electronics, including flat panel display televisions, which are becoming smart televisions.
There is an acute rise in demand for premium products, especially the high end televisions and smart LED screens. India is identified to emerge as the world’s largest middle class consumer market. The consumer durables industry is witnessing an expansion in the rural market. So, Indian market upholds potential growth opportunities.
On technology trends
Android televisions are the next big thing that the industry is currently watching for. Powered with Google’s Android, these televisions recommend great content to the viewer’s right on the home.
Every season some new technologies are introduced in the market and the same is accepted by the consumers enthusiastically. The 25–40 years age group is the most enthusiastic. On the technology front there have been tremendous improvements from, its inception.
Televisions have already shifted from LCD to LED with improved technology both in vision, appearance, and aesthetics. Range of LED both in sizes and design has also expanded to meet the need and requirement of the customers, right from young generations to grown ups and the elderly customers. Steps are already on for further improvement of technology from LED to OLED and further. Change, improvement, and improvement in technology is imminent, more so, in electronics.
On price trends
Keeping pace with the market trend, brands have come up with high-quality LED television at competitive pricing. Growth is expected to be driven by enhanced purchasing power, new technological introductions at higher price points like 4K, smart, and OLED televisions. However, India’s growing upper middle class that has already moved from CRT to LCD to LED televisions is now driving the shift toward new technologies with larger screen sizes because of price competitiveness.
On challenges and opportunities
Though there are large-scale opportunities for expansion, substantial part of the marketing is still vacant in the country vis-à-vis there are good opportunities and potential for export of LED/OLED to neighboring countries like Nepal, Bhutan, Sri Lanka, and others where there is no manufacturing.
India can also become a competitor to China in exports provided production of glass/panel is started in the country, the proposition for which is lying pending for a long time. Unless and until backward integrity is created for any product having mass consumption, potential efforts to create export-related mass employment in the country would remain a dream.
Creating and protection of components manufacturing industry in the country is all the more necessary. Right steps at this juncture would help the country to promote industry, create mass employment, and make the prime minister’s Make in India dream come true. Electronics is the one industry which can be the largest contributor toward this improvement.