Back with a bang: Weston enters Indian market with LED TV’s staring from Rs 12,000
A re-entrant in electronic firm Westway Electronics Pvt. Ltd recently launched a LED TV in the segment of affordable televisions. This is a 42-year-old TV that first introduced colour TV in Indian market. The 32-inch TV ranges from Rs 12,000 to Rs 14,000. This affordable range was launched on April 1 in Karnataka, Tamil Nadu and Kerala and very soon would enter Andhra Pradesh and Telangana.
We call the company re-entrant because this company had a considerable market share in the year 1980. However, post-liberalization the brand failed to compete with other big brands such as Samsung, Sony , and LG. Reason being it’s not so aggressive way of advertising as other brands do. Then sustaining TV business was a bit difficult with very close margins.
The managing director of the company Sumit Maini said that the company is focusing on both metro and tire-II cities. Besides television, the company has also launched air cooler and washing machines.
Re-entry into a market where things seems saturated is quite difficult, when asked the founder of consulting firm Third Eyesight, Devangshu Dutta, how it feels, he said, “There is always a question of feasibility when it comes to refreshing an old brand that to in a new market but the Indian market is dynamic.”
Even after years of re-entry in the affordable television segment, it would face tough competition from the Chinese company name Xiaomi that is a leading player in this segment. Despite the fact that Xiaomi entered the market last year, it has become the no 1 in terms of market share, according to a report by IDC Worldwide’s fourth quarter release. The company has six TV products that range from Rs 10,000 to Rs 50,000.
According to an international market researcher, the TV market is all set to grow between the year 2018 and 2023 by 12.9% across the world.