Super Plastronics Pvt. Ltd (SPPL), the home-grown television manufacturer has announced an investment of ₹200 crores to enhance its manufacturing facilities. It opined that this investment will work towards the development of IoT (Internet of Things) technologies in order to meet the requirement of upcoming and current Indian users.
SPPL is the brand licensee of international TV firms such as Thomson and Kodak. The company highlighted that the proposed investment will meet people’s current demand of work from home on a large scale and would assist Kodak’s HD LED TVs “disrupt the market.”
It noted further that the development of IoT will help SPPL’s TVs connect to other smart home devices and it will also develop a mobile application to integrate TVs and appliances, which would work via voice assistants. In an earlier exclusive interaction with the Mint, SPPL’s CEO Avneet Singh Marwah said that they will have an alliance with Google for its Android TV platform.
Avneet Singh Marwah, director and chief executive officer (CEO) of SPPL, said: “In 2020, we focused on expanding our manufacturing capacity and market presence with an investment of ₹500 crores. Now, we will be expanding our IoT investment so we can continue to give competition to phone brands that are entering into the TV category. With the new pipeline, we are confident that we can capture more than 10% of market share by the end of 2021.”
Because of the expectations from the opportunities from the Production Linked Incentive (PLI) scheme from the government, TV makers in the country are in a hurry to enlarge their manufacturing units at a rapid pace. But, as of now, TV is not included in the investment scheme of PLI, which could be a possibility soon. The investment of ₹200 Crore in the coming three years will commence two new manufacturing units in the country by which SPPL aims to manufacture three million TVs per year.