This Indian Brand is Trying to Make TV Affordable for All Households
Currently, the company is not aiming to compete with stalwarts like LG and Samsung, but to provide advanced features at pocket-friendly prices
The Indian market has turned into a big battleground for numerous television brands, like any other products, each trying to edge the other out of the competition with its features and pocket-friendly prices. With the price war at its peak and several other brands invading the markets here, native brands are constantly working at aggressive pricing strategies to support customer needs.
Price is one of the most important factors that a consumer notices first in any product. Daiwa claims to bring the best at the best price. It is trying to bring affordable luxury to customers.
For Daiwa, a subsidiary of Noida-based Videotex International, the challenge was not just the international brands but also the Indian ones.
It had to face a lot of resistance initially, but Arjuun Bajaj , Director of Daiwa TV, never lost his trust on the ideology that he wanted Daiwa to be known for.
With his education from the University of Essex, UK (Business Management) and a short stint with Samsung India, Arjuun started Daiwa with a dream to maintain a balance between quality and price.
Affordable Price Is The Core Mantra:
At this moment, the company is not targeting to compete with industry stalwarts like LG and Samsung.
"We are looking to gain a foothold in the budgeted TV Market segment, where we have noticed a major vacuum in terms of offerings. We aim to bring advanced functionalities and features to consumers at affordable price points with unmatched quality. In terms of our product offerings, we aim to rise above the competition," Bajaj explained.
Price Wars in the TV Segment:
Besides struggling to make a name in the TV segment, the brand faced a lot of challenges like price wars in online business as the industry was only focusing on affordability in terms of price and nothing beyond that.
"Competing brands kept reducing the prices and started selling cheap, imported TVs. However, we gave enough attention and care to best packaging and manufacturing in India to be one of India's top-selling online brands," he stressed.
Makes in India, Making For India
Daiwa started its journey in 2016 with an aim to address the ongoing problems in the market.
"We realized that the TV market was going through a troubled time as most of the brands were sourcing parts from China, assembling them in India and promoting them as "Make in India' products. But this is not what "Make In India' truly is. So, we decided to build a brand which truly resonates with the "Make in India' philosophy not only in terms of its design and performance but also its functionalities, designed as per the needs of the audience," he said.
Daiwa's parent company Videotex is a popular ODM brand, which has been in the industry for over 33 Years. Daiwa currently has a capacity of producing 2000 LED TVs in a day and are further planning to invest more in factories.
Creating A Niche Brand:
Currently, the Indian television brand is strongly focusing on the Smart TV Categories, especially in full HD and smart TVs. It hopes to build a niche for the brand with their product offerings and core strength –Make in India, Made for India.
"We aim to capture a healthy market share in India and also shall be entering consumer durables segment shortly. Along with online model of growth, we shall also be aggressive on our offline approach, as we establish our foothold in Tier II and Tier III markets," he concluded.