"We want to enter the consumer electronics segment in a big way. As a part of the plan, Intex is launching a range of LCD and colour TVs next week in Gujarat," Ashwani Kaul, Deputy General Manager Product Management (Consumer Electronics) told PTI.
The company will sell products under the 'Intex' brand which will be priced up to 10 per cent less than brands that are currently leading the market. Currently on an average, LCDs are priced Rs 20,000 upwards, while branded TVs begin at Rs 5000.
"Within the next two months, the Intex range TVs will be rolled out nationally and will be priced 5 to 10 per cent lower than brands such as Samsung and LG," Kaul said.
According to industry estimates, the current market size of the LCDs and CRTs put together is at 13 million units annually, with the conventional colour television accounting for 10 million units.
The highly competitive Indian television market is currently dominated by brands such as LG, Samsung, Sony, Videocon and Panasonic and Onida.
"We hope to garner around 4 per cent market share by next year for which the company has strong marketing and promotional plans," Kaul said.
Industry analysts said Intex' foray into the LCD/TV segment could add to its brand equity but it could face technological challenges.
"The category is increasingly becoming technology driven with players such as LG, Samsung and Sony offering cutting edge features," Giraj Sharma, founder director of brand consultancy firm Behind The Moon said.
Intex recently appointed Grey Worldwide to handle its account for one year, in a deal worth Rs 35 crore.
To begin with the company is importing the LCDs from China, the normal colour TVs will be sourced from third party manufacturers within India.
"Once we get to a desired level and attain the economy of scale, we could also look at setting up company-owned manufacturing units for the same," he said.
Intex currently manufacturers mobile phones, computers IT peripherals and DVD players at its three manufacturing units located in Himachal Pradesh and Jammu.
The company is aiming to become a Rs 1,000 crore entity by March next year from the current Rs 600 crore.
