Mobile handset and tablet maker Micromax on Tuesday entered the television segment with the launch of LED TVs priced ₹15,990 onwards.
The company showed off six LED TVs, its size ranging between 24 inches and 55 inches, with the top end model priced at ₹129,990. The product comes with full HD 1080p resolution screen and hosts four HDMI ports and two USB ports.
"Televisions are a natural progression. As consumers evolve, they want their devices and experience to be smart and personal. We aim to partner the growing aspirations of digital consumers at all levels," Micromax MD and co-founder Rajesh Agarwal told Press Trust of India.
The third largest handset maker in the country eyes a revenue of ₹225 crore from the television segment in the next fiscal year. The launch of the LED TVs came soon after the company was reported to have topped the Indian tablets market with 18.4 percent market share, revealed CyberMedia Research.
"In the next one year we are looking at sales of one lakh units (TVs)...In the next two years, the aim would be to increase the TV segment contribution to 20 per cent of the revenues," Agarwal said.
The company is looking to invest ₹100 crore in its Rudrapur, Uttarakhand manufacturing plant, which currently has a capacity to produce 2,000 LED units per day. LED TVs will initially hit 170 cities in nine states like Delhi, Haryana, Madhya Pradesh, Punjab, Maharashtra, Rajasthan, Andhra Pradesh, Karnataka and Gujarat.
Parallel to that, Micromax will invest the same amount in the overall market in the next two to three years.
Micromax also unveiled two Home Theatre systems, a 3D Blu-Ray Player and a Smart Stick Android Dongle.
The Home Theatre Systems, namely HT037F1 and HT089F1, are priced at ₹5,990 and ₹6,990 respectively. Both the systems pack 5.1 surround sound speakers, USB drives and SD cards. HT037F1 comes with a PMPO output of 4,000W, while HT089F1 has 5,000W PMPO output and support for digital FM radio.
The Smart Stick, priced at ₹4,990, can be used to convert television to an Android set. The device packs 1Ghz graphic processing unit and 4GB of internal memory.
"SMART Stick will be priced at Rs 5000 and will connect to any television with an HDMI port. It's like a dongle and will help users access Internet on their TVs," Micromax Director Mukesh Gupta said.
According to Business Standard, the company will have separate business systems for its Home theatres and LED TVS."We will have a separate business head, channel partners and distributors for our consumer electronics products," Agarwal said.