NEW DELHI: After being absent from the Indian market for almost a year, TVs from Philips are set to make a quick comeback as the brand – now licensed by Chinese contract manufacturer TPV – returns to India under a new licensing arrangement.
Manufactured and sold by the Videocon group earlier, Philips TVs had moved out of the market following the financial crisis and subsequent insolvency proceedings against its Indian partner.
Now the $10 billion TPV, which holds the licensing rights for Philips monitors, TVs, mobile phones and tablets for many regions worldwide, will be re-introducing it in India.
The company will be producing the TVs at the factory of local contract manufacturer Dixon, and plans to offer various screen sizes between 24-inch and 65-inch.
“The Philips brand enjoys a good resonance with Indian customers and we are confident that with an adequate line-up, the response should be positive,” Arun Menon, TPV’s country business head (Philips TVs and Audio), told TOI here.
The company is mindful of the aggressive price positioning adopted by some of the Chinese makers such as Xiaomi and TCL, apart from local players like Vu and Intex. The lion’s share of the market, however, is still cornered by old warhorses Samsung, LG, Sony and Panasonic, though their premium pricing and healthy margins are under constant threat following the stiff competition.
Menon said that Philips will be pricing its products between the two categories, and will sell them from both offline and online channels.
Philips is one of the oldest TV brands in the country and has been selling its units since the eighties. It had signed up with the Videocon group in 2011, but the partnership collapsed in September last year following the financial troubles at the Indian company.
The company plans to tap into offline multi-brand stores to sell its TVs, and also the larger retailers such as Reliance Retail, Chroma and Vijay Sales.
The development was reported by ETRetail.com