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Consumer electronics firm Micromax Informatics aims to strengthen its LED television business in the next few years.
The company plans to increase its manufacturing capacity, reduce imported content and introduce new features and models to tap into the rural and semi-urban markets.
Company co-founder Rajesh Agarwal said: “About two years back, the LED TV business was contributing about 2 per cent to our topline. Now, it contributes about 8 per cent. Our target is to increase it to 12 per cent by the end of this financial year.”
Over the past one-and-half years, the company has been focusing on building its LED TV business, he said, adding: “We understand the language of screen, and LEDs are a natural extension for our business. As smart TVs become more prevalent in the industry, we are best suited to emerge as a strong player.”
Agarwal further said that going forward, the company hopes to offer smart TV options across sizes.
Micromax is also looking to tap into the rural and semi-urban demand for LEDs, and is looking to offer MHL (Mobile High-definition Link) and Bluetooth connectivity across its models.
With MHL options, consumers can connect their devices like smartphones and tablets to their LED TVs. In the next few months, the company may make these standard features across all LED TV models.
Agarwal said the company expects to tap into rural and semi-urban regions with these features. Micromax is also considering entering other product categories in the consumer electronics and IT space to leverage the strength of its sales channels.
New products “In the next two years, our plan is to become a true consumer electronics business and enter new product categories,” said Agarwal without revealing specific plans.
On capacity expansion, he said the company is in talks with State governments, such as Telangana and Rajasthan, and plans to set up two large factories to make mobile phones and LED TVs, besides other products.
Agarwal said the company is also hoping to further trim imported content for its LEDs televisions.
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