Indian Smartphone monster Micromax just made its debut in the arena of the smart television space with “value-for-money” offerings and eventually expected to drive some notable amount of market share by the end of this financial year. The company yesterday has introduced its brand new three new smart TV models and gearing to capture 5% market share in the private ground by the end of this fiscal year.
With the foray into the smart TV edge, Micromax is reported to take over 5% market shares in TV segment while eyes on acquiring 12% of the whole market panel by this year. With its latest three smart TVs, Micromax is scheduling to improve 15% of its overall revenue by March 2017 and is expected to rank in the third position in the Indian television market.
On Wednesday, speaking at the grand launch of smart TVs, Chief Marketing Officer of Micromax said, the company is targeting to get at least Rs 1500 crore revenue from these three TVs which eventually will be around 15% of the total revenue which is 4% more than the present year profits of Micromax. Current year, Micromax has gained 11% benefit from the market which is expected to hike with the foray of Smart TVs.
Presently, the panel market of India is anticipated to be approximately 10 million units 8% of which is acquired by smart TVs. And with its debut in Smart TV world, Micromax is confident about grasping 5% market shares by March 2017.
In the Indian market, Micromax has sold out 0.85 million LED TVs in last financial year and this year the estimations sticks on selling 1.25 million units. Moreover, the domestic firm is also planning to expand its local reach all across the country, especially in Tier II and Tier III cities.