French television brand Thomson, which had entered India through an exclusive partnership with Flipkart, will invest Rs 150 crore to set up a new television manufacturing facility in Noida in January 2019.
Thomson, one of the well-known TV brands has once again marked its presence in Indian households since it re-entry in the Indian market post-15-year gap.
The company launched its series of three smart TVs during April 2018 and in the last eight months has launched a series of SKU’s including upgraded versions.
Thomson now plans to enter the premium segment of 4k televisions and plans to launch its new premium TV models, bigger than the already existing models. The company has aggressive plans to give a very serious competition to other existing online players, as well as the new entrants.
Thomson TV is planning to target around 10 per cent of the market share by 2022 from its current market share of 3 per cent, said Avneet Singh Marwah, CEO, SPPL (exclusive brand licensee of Thomson in India). He further added, “Seeing the current scenario, the next five years belong to the affordable category brands (like Thomson TV) and these brands will take over the market share of the top three multinationals in the next five years.”