444Builds localised manufacturing capabilities as part of its long-term strategy to cater to the growing demand for superlative smart home entertainment solutions in the country
On October, 2018: TCL Electronics, a global top-three television brand and a leading consumer electronics company, has partnered with the Andhra Pradesh government to set up a brand-new manufacturing facility in Tirupati. An agreement regarding the partnership was signed in China between the respective representatives of the State IT & Electronics department and TCL. The MoU was signed in the presence of the Andhra Pradesh IT minister, Shri Nara Lokesh, post an in-depth meeting between him and the CEO of TCL Electronics, Kevin Wang.
The development is in line with TCL’s long-term vision of building localised capabilities in order to better cater to the growing market demand for innovative home entertainment solutions across the country. The Tirupati unit will enable TCL to actively contribute towards the ‘Make in India’ initiative by generating substantial employment opportunities for the country’s young workforce, and will also fulfil the market demand for smart consumer electronics appliances in India.
The TCL Vision: Replicating global success in the Indian market
A leader in the TV and consumer electronics segment, TCL has a physical presence in over 80 countries and caters to more than 160 international markets through its robust channel network and strong industry tie-ups. In H1 2018, TCL Electronics’ global LCD TV sales volume crossed the 10-million mark to reach over 13.17 million sets, growing by 37.2% year-on-year. The company also registered exceptional response in various overseas markets, with its overseas sales volumes increasing by 44.4% year-on-year to more than 8.28 million.
TCL’s online partnership with Amazon is expected to further drive significant increase in market traction for the brand, which is now looking to firmly establish itself amongst the Top 3 TV brands on the e-commerce platform and become the most-popular consumer TV brand. It has also tied up with large offline electronics retailers such as Croma, Reliance Digital, and Vijay Sales, as well as major regional channel partners to build a robust, pan-India sales and distribution channel.
With all signs indicating towards strong online and offline growth for the company, TCL has now set its sights on capturing 8% of the country’s overall smart TV market.
Speaking on the partnership, Mike Chen, Country Manager – TCL India, said, “We have always strived to provide our customers with the ultimate audio-visual entertainment experience through technology in a bid to make their homes smarter and their entertainment experiences richer. Our partnership with the Andhra Pradesh government and the establishment of our Tirupati manufacturing unit would allow us to provide Indian consumers with innovative smart TVs driven by the latest cutting-edge QLED and AI technologies.”
TCL’s recent announcement also underlines its plans to introduce several innovative smart entertainment solutions within the Indian market designed to fulfil the evolved entertainment sensibilities of the country’s growing young consumer base. Under the first wave of its latest product launch, it aims to disrupt the premium home entertainment segment by introducing India’s first Google-certified Android QLED TV on Amazon.
Through the launch of the state-of-the-art and innovative solutions, TCL will provide Indian consumers with more top-of-the-line entertainment choices and redefine the country’s smart entertainment experience. It will also launch several exciting offers around the Diwali festive season to give Indian consumers even more reasons to cheer and celebrate!
About TCL Electronics
Headquartered in China, TCL Electronics Holdings Limited (HKSE stock code: 01070) is one of the leading players in the global TV industry, and is engaged in the research and development, manufacturing and distribution of consumer electronic products. Through a new product-and-user- oriented business model that focuses primarily on a “double +” strategy which includes “smart + internet” and “products + services” as the main direction, TCL Electronics strives to build a comprehensive ecosystem for smart TVs that provides users with a superior experience with its smart products and services. TCL Electronics ranked No.3 in the global LCD TV market with a market share of 10.9% for the year 2017 according to the IHS Technology and the company’s shipment data.