Philips TVs to make a comeback in India
Royal Philips is all set to make a comeback with its television range into the Indian market after a gap of almost one year as its Taipei, Taiwan-based brand licensee TPV Technology is introducing around eight models here next month.
TPV Technology, which has a global rights for TV range of the Royal Philips, has also got brand licence for the Indian market after Philips’ earlier licensee partner Videocon Industries stopped production following financial woes.
Riding on the high brand value of Philips among the Indian consumers, TPV Technology is aiming to be among the top five brands here in the TV segment and capture a market share of 6 to 8 % by December 2020.
“We have plans to launch 7-8 models starting with 22 inch and 24 inch category and going up to the 65 inch category, starting mid-December 2018,” Philips Television and Audio country business head Arun Menon told PTI.
It has also plans to introduce OLED 903, a flagship Philips OLED TV, in the JulySeptemer quarter next year.
“All models that are being launched in India are available in the market globally as well,” he added.
The company has partnered Dixon Technologies for local assembly for Philips range of TV and is also aiming for local manufacturing in the longer term.
TPV Technology is already selling audio products under Philips brand here and would leverage its existing retail network for its Philips TV range, he added.
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