TCL plans to enter the refrigeration market next year, and aims to capture a market share of 7 percent of Indian TV sets

TCL plans to enter the refrigeration market next year, and aims to capture a market share of 7 percent of Indian TV sets

China-based consumer electronics company TCL A senior official with the company said it aims to capture a 7 percent share of the Indian TV market in 2022, with the help of expanding its retail footprint and adding newer models. TCL, which is also in the air conditioner and washing machine segments, plans to enter the refrigeration segment next year.

We’re talking about Indian the TV market, Mike, General Manager, TCL India Chen He said it is one of the few markets globally reporting post-pandemic growth.

“The Indian TV market, both online and offline, is expected to reach around 10 million units in 2022, and we are aiming for 7 percent market share,” Chen said.

TCL on Tuesday expanded its TV portfolio by adding three new smart TV models – the new generation Mini LED 4K. Google TVand Gaming QLED 4K TV and 4K HDR Google TV, priced between Rs 35,990 and Rs 69,990.

Google TV is a layer or software interface that runs on top of Android TV.

“In India, we are the second one after Sony to launch Google TV,” adding that TCL aspires to provide world-class technology to its customers.

Chen said that in the Indian TV market, customers are now also looking for larger screen sets. 43-inch size and 4K features are now standard.

“Now, even the tier 3 and 4 markets are smart TV market and tier 1 market is looking for smart TV with premium features,” he said, adding, “I think going forward QLED, OLED and min LED will become popular. These are fast growing.”

The company is also expanding its sales network, focusing on offline channels. TCL has around 60 brand stores in India, mostly in the southern region and has plans to add more.

Asked about expanding the sales network, Chen said: “Until last month, our product was available in 10,600 stores and every month we have a target to expand it.”

TCL has a turnover of around Rs 1,400 crore.

When asked about the performance of other categories, Chen said he got a good response in the washing machine segment.

However, in the air conditioner category, performance has not been very encouraging this season and only 50,000 units have been sold so far.

Chen added that TCL has about 7 models in the washing machine sector and has 5 models of inverter split air conditioners.

The company also plans to introduce a refrigerator in 2023, as part of expanding its product portfolio in the Indian market.

“Next year, we’ll have refrigerators,” Chen said. “It’s part of a strategy to add one product every year.”

Besides the domestic market, TCL – which has invested around Rs 1,800 crore to set up a TV manufacturing unit in Tirupati – is also looking to tap the export market.

The company has already started manufacturing 32-inch and 43-inch TV panels here.

“The factory has the capacity to roll out 8 million TV units, while India is only 10 million market. We will start exporting the panels to Europe And the United States as the next step.”