Marwah also informed that the company is investing Rs 500 crore in a new manufacturing plant in Uttar Pradesh
Indian contract TV manufacturing company Super Plastronics has entered a licensing agreement with German consumer electronics brand Blaupunkt to bring the brand to the Indian market, marking the Super Plastronic foray into the premium TV segment.
As part of the deal, Super Plastronics will invest more than Rs 200 crore in Blaupunkt in the next three years in technology and innovation, said Super Plastronics CEO Avneet Singh Marwah.
Blaupunkt’s manufacturing, branding, designing, packaging, and retailing supply chain will be handled by Super Plastronics. Super Plastronics also holds the license for other brands like Kodak and Thomson.
Marwah also informed that the company is investing Rs 500 crore in a new manufacturing plant in Uttar Pradesh. The company is expanding their service centres from 550 to 760 in the next three years and is also investing in warehousing in tier 2 and 3 cities to improve last-mile delivery.
Marwah added that this new development will enable the company to strengthen its position at the premium-end and expand its “made-in-India” TV portfolio.
“Our agreement with Blaupunkt for TVs will enable us to offer consumers premium TVs with the best of sound technology. This will help us strengthen our presence in the TV segment and increase our overall market share to about 15 per cent in the next three years,” he added.
“Within two years, we aim to capture 6 percent market share of the Indian TV market and counter Chinese smartphone brands,” said Marwah.
Various consumer electronics brands have recently set eyes on India as a manufacturing hub. Last month, Chinese consumer electronics brand Hisense announced that it will set up a local TV manufacturing plant in India with a production capacity of two million units within the next two years.
TCL Group has also revealed that it would begin production of mobile phone and television display panels at its Tirupati plant during the fourth quarter. It had announced an investment of USD 219 million in September 2019 to start manufacturing in India.
