TCL Electronics has partnered with the Andhra Pradesh government to set up a brand-new manufacturing facility in Tirupati. An agreement regarding the partnership was signed last week in China between the representatives of the State IT & Electronics department and TCL. The MoU was signed in the presence of the Andhra Pradesh IT minister, Nara Lokesh, post a 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 fulfill the market demand for smart consumer electronics appliances in India.
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 an 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 a 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 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.
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 fulfill 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.