By IANS
Chennai : Hyundai Electronics, a consumer-durables division of Videocon Industries Ltd, is eyeing the growing liquid crystal display (LCD) television segment in India.
“We will shortly launch three LCD (TV) models. Also on the anvil are new models in flat TVs, one in 15-inch and two in 21-inch segments,” Eric Braganza, chief operating officer of the division, told IANS here.
According to him, the LCD market is growing fast, although it occupies just three percent of the current Indian colour TV market.
As a strategy, the division will be pricing its LCDs lower than that of LG and Samsung’s comparable products and higher than rest of the brands available in the market.
Braganza said the 32-inch and 26-inch LCD models will be priced at Rs.39,990 and Rs.29,990, respectively.
Hoping to sell around 245,000 TVs this year, up from 210,000 units sold last year, Braganza said the target for next year is 400,000 pieces.
Terming the plasma TV category as a dying one in India, he said, “Though we have a new model, we are yet to decide on the launch as the segment is not growing.”
Speaking about the division’s performance, Braganza said it would close this financial year (2007-08) with revenue of Rs.2.5 billion. The target for the next fiscal will be Rs.3.5 billion, he added.
Apart from new LCDs and flat TVs, Hyundai Electronics will launch four new DVD players next fiscal.
Selling over 120,000 DVDs per year, the division is targeting a 25 percent growth during the next financial year.
Agreeing that the brand is falls under the “push” category and not like other two Korean brands that are categorised as “customer pull brands”, Braganza said the budgeted brand spend for the current year is Rs.110 million and it would go up to Rs.170 million next fiscal.