Will invest $30 million in India in first two quarters of FY20: Blaupunkt Televisions India COO

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Will invest $30 million in India in first two quarters of FY20: Blaupunkt Televisions India COO

German-brand Blaupunkt that launched televisions in India in September 2018 is looking to invest $30 million in the first two quarters of FY20. It is looking to expanding its TV business in India. In an interaction with Moneycontrol, Karan Bedi, COO, Blaupunkt Televisions India said that the investment will be utilised to manufacture premium television sets locally.

Bedi said that while they have an exclusive partnership with e-commerce platform Flipkart to sell their TVs, he added that his company would be open to partner with other online and offline players.

“The initial few days were when we were selling online with a limited stock. But we might open up to offline electronic retailers as well,” he said.

How is it different

Blaupunkt is a well known brand for audio equipment. Bedi said that unlike other television brands operating in the Indian market, Blaupunkt will offer a complete audio experience for customers.

“Whenever someone buys a television, they are also required to buy a compatible audio system. With our television, there is no need to buy an additional sound system,” he noted. Some of the television sets come equipped with an external soundbar, while others have it inbuilt.

Won’t compete on pricing

The online television segment is among the most competitive ones with several players aggressively pricing their products. Bedi, however, said that they will not compromise on pricing.

“We will compete on the product quality and not on price. We are aware that several brands offer products at a much cheaper rate, but we will cater to mass premium customer with quality products,” he added.

Bedi explained that their idea is to keep the products reasonably priced. In FY19, the company is looking to launch a limited edition television model at a competitive price.

Manufacturing locally

While the company is making investments into producing locally, the duty structures stay high for imports. Customs duty for TVs is at 20 percent currently.

The company at present sells eight television products in India. The basic television sets are manufactured locally while others are imported.

Images are for reference only.Images gathered automatic from google.All rights on the images are with their original owners.

2018-12-14 15:19:19

Images are for reference only.Images gathered automatic from google.All rights on the images are with their original owners.

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