Posted: June 25th, 2010.
Godrej has announced that the company will officially make its foray into the television segment in 2011. The company has been testing the waters for the past one year in the Andhra Pradesh market. According to a company spokesman, the success of the pilot project has meant that Godrej shall be extending the pilot run to three more states – Kerala, West Bengal and parts of Maharashtra.
Speaking to Business Standard, George Menezes – the COO of Godrej Appliances revealed that there shall not be too many surprises in the final pricing of the Godrej television sets. Color TVs will start to be priced at Rs.10,000 while LCD TVs will be competitively priced between Rs.17,000 and Rs.18,000. The higher-end LED TVs shall be priced around the Rs.40,000 mark.
Godrej however has its task cut out. The market is hugely dominated by the Korean giants – LG and Samsung with close to 25% of market share each. Other vendors like Videocon and Onida too have significant share. Consequently, Godrej shall be competing against companies that have already proven their credentials. This will be an interesting market to watch.