Aiming to make most of India's potential LED maker Taiwan based TPV Technology which owns AOC brand has turned its India operations into a wholly owned subsidiary—TPV Technology India Pvt Ltd.
This will be followed by investment of around Rs 200 crore in the Indian operations. Going forward, the company may also set up a factory in the country by the end of this year. The company is currently scouting for land.
Seema Bhatnagar, director (marketing) at AOC India said that the company plans to primarily focus on the CRT replacement market and close to Rs 100 crore would be invested on marketing activities.
“We had some issues with warehousing but now that we are a wholly owned subsidiary and we can have 21 warehouses by the end of the year. This will save a lot of time which was getting wasted in shipping of products,” said Bhatnagar.
According to her LCD market which is already shrinking will be phased out in another three to four years. “Since our target consumer is the CRT replacement market we are trying to bring in LED models at lowest possible price to existing players,” she added.
Being an year and a half old in the Indian market AOC is aiming to have a market share of 10% in the current year. The LED maker is hoping to cross a top line of Rs 1,000 crore in the next year. “We should close the current year around Rs 850 crore,” she added.
According to Bhatnagar setting up a factory in the country would save a lot of cost and release the burden of currency volatility. “We haven't hiked prices yet but if the rupee slides further we may have to look at increasing prices by around 5%,” she added.
Actress Kalki Koechlin has been roped in as brand ambassador for AOC India and new TVC is set to go on air.
