Amidst shifting market dynamics that have seen prominent Chinese brands like OnePlus and Realme strategically withdraw from the TV industry, Super Plastronics Pvt. Ltd. (SPPL), based in Noida, continues to hold a significant presence in the Indian market. SPPL is known to hold a wide number of licensed brands, including Thomson, Kodak, Blaupunkt, Westinghouse, and White-Westinghouse (Electrolux’s trademark).

In a conversation with Mrs. Pallavi Singh Marwah, Vice President of SPPL, we delve into the strategic positioning of these brands, especially in a declining Indian TV market this year. SPPL maintains ambitious revenue targets, aiming for 700–800 crores in the current financial year (2023–24). Mrs. Marwah offers insights into SPPL’s journey within the consumer electronics industry.

1. How do Thomson, Kodak, Blaupunkt and Westinghouse brands under SPPL compete and collaborate? Are they sold both online and offline?

Each brand under our umbrella is strategically positioned to cater to distinct customer segments. Thomson, for instance, is an online-exclusive brand available solely on Flipkart, while Westinghouse is exclusively sold on Amazon. In contrast, Kodak is accessible on both online platforms and through offline retail stores, dealers, and distributors. These brands are priced in accordance with their target audiences, and our range of televisions and products is designed with each brand’s long-term strategy in mind.

Blaupunkt as a brand has been present in India through its audio licensees for almost 25-30 years. It is also a brand that the middle age resonates with since high-end audio systems in cars were by Blaupunkt. It is a brand that we position as a premium one and has better audio quality since that is the brand’s forte.

2. Could you elaborate on software differences among Thomson, Kodak, Blaupunkt, and Westinghouse TVs and their unique features for diverse user preferences?

Since all these televisions are based on the Android platform, there’s limited flexibility to make extensive changes to the software. However, differentiation occurs through various introduced variants. For instance, there are distinctions like an Android-based TV or a Google TV that influence the user experience. Furthermore, differences exist in backlight technology, including Full HD, Ultra-HD, 4K, and QLED variants, which enhance the customer’s viewing experience. These factors help cater to diverse customer preferences and set each brand apart.

3. What drove the decision to increase manufacturing capacity to 2 million units annually, and how does the new greenfield manufacturing facility at Hapur contribute to this expansion?

The decision to expand our manufacturing capacity was driven by the fact that our current manufacturing facility was consistently operating at or above its maximum production capacity. To meet the growing demand for our products, the new manufacturing facility in Hapur was established. This additional space not only allows us to keep up with the increasing production requirements but also opens the door for us to potentially start manufacturing other product categories within our own facilities, which can further enhance our overall production capabilities and flexibility.

4. With SPPL’s success in FY 2022–23, what are the key factors that have contributed to the company’s growth in the smart TV market?

The company’s growth in the smart TV market in the past fiscal year can be attributed to a strong focus on backward integration. We’ve taken significant steps, such as setting up Surface Mount Technology (SMT) machines in-house. This move aligns with our ongoing effort to bring outsourced jobs back within the company, gradually progressing towards the goal of establishing a fully self-sustained, “Made in India” manufacturing unit.

5. Can you share insights into the current state of the Indian TV market and the challenges or trends that SPPL is navigating in this industry?

The Indian TV market is currently experiencing a decline this year, which presents our most significant challenge. We are striving to maintain our price points despite the increasing inflation, even though this impacts our profit margins. It’s worth noting that this year is seen as a recovery year for the industry as a whole, and we are working to navigate through these challenges and emerge successfully.

6. Could you elaborate on SPPL’s revenue targets for 2023–24 and beyond, along with their strategies and desired market share by 2024?

In the current financial year (2023-24), our target is to achieve a gross revenue of approximately 700-800 crores, with an even higher goal set for the following year, anticipating a 15% increase. To reach these targets, we’ve developed a strategic roadmap that includes expanding into additional product categories that can be manufactured in India.

Specifically, regarding televisions, our aim is to secure a 10-12% market share by the end of 2024. These targets are part of our broader growth strategy as we continue to evolve and expand within the Indian consumer electronics market.

7. With Xiaomi leading the smart TV market, what unique value does SPPL bring to consumers in India?

While Xiaomi’s TVs are built around their PatchWall platform, our televisions stand out by being entirely based on the Android/Google software. This distinction offers consumers a different user experience and access to the broader Android ecosystem, providing unique value in terms of software, apps, and integrations.

8. How is SPPL preparing for the festive sales season, especially with the ICC Men’s Cricket World Cup coinciding, and what expectations do you have in terms of sales during this period?

In preparation for the festive sales season, coinciding with the ICC Men’s Cricket World Cup, we’ve taken several measures. We’ve introduced a special-edition TV and washing machine to align with the spirit of the World Cup. Additionally, we’ve established a partnership with Hotstar, offering free 7-day trials to our consumers.

We anticipate a notable increase in sales during this period due to the World Cup’s popularity and the festive atmosphere. These initiatives and the excitement surrounding the event are expected to contribute to a positive sales outcome.

9. Beyond TVs, SPPL has introduced washing machines under the White-Westinghouse brand. Can you tell us more about your foray into home appliances and the market response?

We’ve extended our product offerings into home appliances with the introduction of washing machines under the White-Westinghouse brand. Currently, both brands, White-Westinghouse for appliances and Westinghouse for televisions have only one category each.

While it’s still early in our journey into the home appliance market, we are actively exploring opportunities to expand our product range and offerings within this segment. The market response has been positive, and we are committed to growing our presence in the home appliance sector as part of our overall brand expansion strategy.

We are also looking into refrigeration, air conditioner manufacturing, air coolers, and air purifying systems.

10. Considering the growing demand for environmentally friendly products, does SPPL have any sustainability initiatives or plans related to eco-friendly manufacturing or materials?

In response to the growing demand for environmentally friendly products, SPPL has taken concrete steps to promote sustainability. We’ve adopted sustainable packaging practises for our products and prioritize energy efficiency in their design, assisting consumers in conserving energy. Our commitment to eco-friendliness extends to our washing machines, which are engineered to use less water during a single wash compared to conventional models. Additionally, we actively foster environmentally responsible behaviors among our employees, emphasizing the importance of reducing, reusing, and recycling materials. Our dedication to creating a more sustainable and eco-friendly future is evident in both our products and everyday operations.

Here’s the Indian TV market’s current status:

In Q1 2023, the Indian TV market witnessed an 8 percent year-over-year decline, the first in six years. This was attributed to factors like rising inflation, supply chain disruptions, and the ongoing war in Ukraine. Conversely, in Q3 2023, the market rebounded with 33 percent year-over-year growth, driven by the festive season, increased disposable incomes, and the introduction of innovative TV models, as reported by Counterpoint Research.

Xiaomi currently leads the Indian TV market with a 23 percent market share, followed by Samsung in second place at 19 percent, and LG at 12 percent. Notably, SPPL brands such as Thomson, Kodak, and Blaupunkt rank among the top 10 players in the industry.

The Indian TV market is poised for an exciting and challenging journey in the coming months, with a projected shipment of 16 million units in 2023. It is expected to remain dynamic, offering both opportunities and hurdles for manufacturers and consumers alike.

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Endefo, based in Dubai, is an electronics brand that offers various consumer electronic products, including headphones, speakers, and wearables. It has a global presence but it is now concentrating on growing its presence in the Indian market. It began its Indian journey with a one-year trial run in Kerala in 2019 and expanded to more than ten Indian states. Additionally, Endefo serves customers in 24 countries worldwide. The brand intends to invest Rs 200 crore by 2024 to capture a 10 percent market share in India’s growing wearables segment.

Endefo recently announced a couple of new products, including Enbuds 12, Enbuds 14, Enbuds 20, Enbuds 21, and Enbuds Aura, with a starting price of Rs 899. These products are available through a network of over 2,000 retail stores in India.

In this interview, Aneef Tas shares insights into Endefo’s journey, its commitment to the “Make in India” initiative, and the strategic vision driving the brand’s growth in the Indian market.

1. How does Endefo plan to distinguish itself from the multitude of brands like Boat, Noise, and Fire-Bolt operating in the wearable technology segment in India?

Aneef Tas: Having two decades of experience in the global market is a considerable advantage. Our expertise in the industry can be a key asset for understanding customer needs and market trends. It’s commendable that Endefo is not merely following the industry leaders but working on building its own brand identity. Differentiation and unique offerings can set us apart in the crowded market. Focusing on offline channels to build trust with resellers and distributors is a wise strategy. In India, trust is a crucial factor in business relationships. This approach can help in establishing long-term partnerships. Having 500+ service centers across India is a significant advantage. Quick and efficient after-sales support can boost customer satisfaction and trust in the brand.

The importance of a dedicated and experienced team cannot be overstated. Their hard work and commitment will be pivotal in achieving our goals in the offline channel. Keep in mind that the Indian market is diverse, with varying preferences in different regions. Adapting our products and strategies to suit local needs can be a key factor in the success. Effective marketing and branding campaigns are also essential for increasing brand visibility and awareness in the Indian market. Consider leveraging digital marketing and social media platforms to reach a wider audience.

In the gadget and wearable segment, product quality is critical. We always ensure that our products meet the expectations of the Indian consumer in terms of performance, durability, and value for money. While not following the industry leaders is a bold move, it’s essential to keep a close eye on your competition and be aware of market trends. This will help us make informed decisions and stay competitive. Continuously gather and act upon customer feedback to improve our products and services. This customer-centric approach can help us evolve and meet the changing demands of the market.

2. Could you provide insights into Endefo’s different product categories in India? What new products can we expect this year?

Aneef Tas: Currently, we cater to the entire segment, starting from micro-cables to soundbars.

1. Cables, Adaptors, and Power Bank
2. Earphone, Neckband, and TWS
3. Smartwatches
4. Portable Speakers, Party Speakers, and Soundbar

We are trying our best to cover the entire segment; by the end of 2023, we will have 100+ SKUs exclusively in India

3. In terms of pricing, what segments of the market is Endefo targeting with its products?

Aneef Tas: Prioritizing product quality over engaging in a price war is a prudent strategy. Indian consumers are increasingly value-conscious and are willing to pay for quality, especially when it comes to gadgets and wearables. Recognizing the need for affordable products is essential in the Indian market. However, affordability does not necessarily mean compromising on quality. Balancing the two is key to attracting and retaining customers. Our emphasis on continuous improvement and innovation by working closely with the R&D team is a positive approach. Adding additional features to our products can make them more appealing to consumers and justify a slightly higher price point.

4. What motivated Endefo to target the Indian weartech segment, and what are your expectations for market share in the next three years?

Aneef Tas: As previously mentioned, our commitment lies in becoming an integral part of the Indian tech industry. Over the last three years, we have continuously invested to establish a strong presence in India. Currently, we have a diverse range of products and robust partnerships with businesses in various states. Our primary objective now is to expand our reach nationwide. Within the next three years, we aim to rank among the top five most trusted brands in India, ensuring our products are readily available through all distribution channels.

5. What opportunities and factors in the Indian market are driving the demand for wearable gadgets and portable audio speakers?

Aneef Tas: The purchasing power of the younger demographic is on the rise year after year, and young consumers consistently opt for top-tier products featuring the latest technology. Our current primary focus is on the audio sector. By the end of this year, we are set to broaden our existing range of 10 product variations to include 25 options, catering to diverse age groups. The audio segment is experiencing steady growth and presents a substantial opportunity for us.

6. Can you discuss your commitment to the “Make in India” initiative and how all Endefo products will be proudly made in India?

Aneef Tas: Operating in more than 24 countries, we have consistently placed the advancement of each nation at the forefront of our priorities. Initially, our operations revolved around importing goods, but witnessing India’s significant strides in manufacturing, we altered our strategy to align with the ‘Make in India’ initiative. Today, we take great pride in declaring that we exclusively manufacture 100% of our products within India, contributing to the country’s economic growth as a vital cornerstone of this initiative.

7. Tell us something about the Rs 200 crore investment. What specific areas will the investment be allocated to within India?

Aneef Tas: Primarily focused on our product offerings, we have recently introduced five new True Wireless Stereo (TWS) devices priced under 1500 Rs, with the lowest starting at 899 Rs. In the near future, we plan to expand each product category to include a minimum of 10 or more options. To support this initiative, we are allocating 150 Crores towards product development, while the remaining funds will be directed towards various areas such as infrastructure, marketing, and team expansion. Additionally, we’ve initiated our North India operations in Delhi, and we’re in the process of setting up another office in Bangalore.

8. How crucial is research and development (R&D) in Endefo’s expansion strategy for India, especially in the context of your ‘Make in India’ initiative? Are there plans to reduce R&D and manufacturing operations outside India as you focus on local production and innovation?

Aneef Tas: In every company, this department assumes a critical role. We maintain a presence of several research and development professionals in China, Dubai, and India. We take great satisfaction in allocating resources to this domain as it significantly influences the long-term success of our brand. The R&D team directly reports to top management and consistently ensures the timely introduction of new technologies.

9. Are there plans to collaborate with Bollywood or sports celebrities for brand promotion?

Aneef Tas: Yes, we are in discussion very soon we will unveil it

10. Could you share your long-term vision for Endefo’s growth in India, along with the message you’d like to convey to Indian consumers?

Aneef Tas: We are actively cultivating trust across all consumer touchpoints in India. Indian customers are highly informed and connected, often well-versed in the latest technologies, and we aspire to be the pioneer in introducing these innovations to the Indian market. Our commitment to quality and post-sales service is unwavering, a principle we communicate to our business partners, and it has been a key factor in our rapid growth in India.

With a keen focus on ‘Make in India,’ dedicated research and development efforts, and exciting plans for collaborations with Bollywood and sports celebrities, Endefo is looking to make its mark in the Indian electronics market. We can expect a lot more products from the brand in the coming months.

The post A Quick Chat with CEO of Endefo, a Brand Looking for 10% Wearable Market Share in India in 3 Years appeared first on Gizmochina.

Xiaomi CFO Chew Shou Zhi recently went on Bloomberg for an interview, and he revealed some quite interesting information. According to Chew, Xiaomi is planning to make a huge push for the 5G market in China in 2020. More interestingly however, he also claims that the Xiaomi‘s plan for 2020 includes a big emphasis on Western Europe due to them gaining plenty of traction there.

Chew claims that the company has made huge strides in Western Europe, becoming the 4th largest smartphone maker there. In Spain, Xiaomi is even the LARG, a solid acheivement. The company’s success doesn’t end at smartphones however as they also conquer a big chunk of Western Europe’s wearable market, being the 2nd largest wearable company there.

EDITOR’S PICK: Some POCO F1 users have begun receiving the Android 10 update

Perhaps the biggest surprise when it comes to Western Europe however is that Xiaomi’s Scooters are big sellers. The company’s scooters conquer more than 70% of the market share in many countries in Western Europe, though he doesn’t specify which ones. He also mentions that Xiaomi grew by 90% in Western Europe over 2019, making them one of the top 4 fastest growing companies there.

Chew goes on to talk about how Xiaomi plans to launch 10 5G smartphones in China for 2020, and they’re also planning to bring their 5G product portfolio to their other countries of operation, which includes South-East Asian markets, African markets, Latin American markets, the Indian market and of course, the Western European market. When asked about whether Xiaomi plans to bring 5G devices the US however, Chew remains coy, meaning American Mi Fans will probably have to continue waiting.

UP NEXT: Xiaomi’s poll on which camera manufacturer to partner with shows Hasselblad gets most votes

(Source)

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Xiaomi’s co-founder and CEO Lei Jun appeared on Bloomberg in an interview where he shared information related to the company’s performance so far and what the company is looking forward to in the new year.

The company’s share dropped in the past few days, wiping off around $6 billion of its market valuation. However, Lei Jun shrugged that off and says that the company is adopting next-generation technologies which should energize demand for its smartphones.

While he did not comment on how an economic deceleration might affect the business, he was hopeful that the 5G technology will revive demand for smartphones as well as the host of internet services that Xiaomi offers. The company is offering a range of online services, including movies and music streaming to around 220 million users. He said:

In China, the penetration rate of smartphones is extremely high. But I think we are at the eve of 5G. I believe when 5G phones start to get popular, the overall demand from China will recover.

Xiaomi, which is dominating the Asian market, is now planning to expand to other regions. The company will soon expand to the European market but there’s no progress related to the US expansion plans. This could probably because of the on-going US-China trade war. He said that over the past two to three years, the company has entered about 80 countries and regions and is hoping that the company keeps that momentum going.

Read More: Redmi Note 7 with premium glass body, 19.5:9 screen and a 48MP camera is now official for 999 Yuan (approx. $147) only!

Yesterday, alongside the launch of Redmi Note 7 smartphone, the company has also announced that the Redmi brand will now work independently of its parent company. This move will enable the Chinese company to distinguish the products, operations, and working methods. It now has three brands — Mi for premium high-end phones, Redmi for budget devices and Poco for “affordable flagship” devices.

(Source)

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