Don’t miss the latest developments in business and finance.

Pioneer to foray into home entertainment market

Image
Prabodh Chandrasekhar Mumbai
Last Updated : Feb 06 2013 | 6:31 AM IST
The $6.8 billion Japanese electronics major Pioneer is planning to enter the home entertainment market.
 
The company plans to import premium products like music systems, speakers, MP3 players and plasma televisions from its overseas plants in China, Thailand and Japan.
 
Pioneer is in talks with leading electronic companies such as Videocon to distribute its products in the country. It is also considering the option of utilising services of independent sales companies like Vijay Sales and Sony Mony to market its products.
 
"The Indian home entertainment market is important to Pioneer. We will target only the premium electronic market in the country. We are assessing various options to market our products," said Tatsuo Takeuchi, managing director, Pioneer Electronics AsiaCentre, which looks after the Indian operations of the company.
 
The premium electronics market in the country is estimated at about Rs 6,000 crore, dominated by players such as LG, Samsung, and Sony. In order to arrive at correct pricing for its products in India, Pioneer conducted a market study in January.
 
"The pricing of our products would match the quality. We will import all our products and there are no immediate plans of manufacturing in India," said Takeuchi.
 
Pioneer has set up its office in Delhi this month and tied up with Indian car accessory provider Autocop Securities for distributing its innovative range of in-car entertainment products like like WMA, MP3, CD players and speakers.
 
The products are priced in the range of Rs 5,990-Rs 15,490. Home entertainment devices form 40 per cent of the product portfolio for Pioneer while the rest is accounted for by in-car products.
 
The company has manufacturing bases in Japan, China, Thailand, Europe and North America.

 
 

Also Read

First Published: Mar 31 2006 | 12:00 AM IST

Next Story