Appliances company Godrej & Boyce expects to garner five per cent of the television market in India within the first year of its foray into the television space.
Currently, the television market is estimated at around Rs 15,000 crore and 13 million units in volume terms. Kamal Nandi, VP-marketing, Godrej & Boyce, said, “We test marketed our televisions in Andhra Pradesh for 1.5 years to understand the market. We are now launching in select states including Kerala, West Bengal and rest of Maharashtra without Mumbai.” According to Godrej, the reason for foraying into television space is distribution synergies as well as its intention to become a complete consumer goods maker.
George Menezes, COO of Godrej & Boyce, said that the company's appliance manufacturing sector, which achieved a 30 per cent growth in 2009-10, was poised to register 40 per cent growth in 2010-11. The company has launched CRTs, LEDs and LCDs, priced between Rs 5,600 and Rs 56,000. While the LEDs and LCDs are imported from Europe, the CRT range is manufactured in Uttaranchal by third-party manufacturers.