Through Super Plastronics, an Indian franchise, Thomson has invested ₹500 million in its Noida factory, launching TV soundbars and expanding into the Indian audio market.
Thomson, the French consumer electronics brand, has invested ₹500 million in its existing manufacturing facility in Noida as it announced its entry into the Indian audio market through its licensee, Super Plastronics Pvt Ltd (SPPL).
The investment, made as part of SSPL, came with the launch of soundbars. This adds to the company’s presence in India, which already includes TVs and various appliances. As Thomson claimed, the Noida facility is set to produce half a million units per year.
SPPL CEO Avneet Singh Marwah outlined plans to expand the company’s audio offerings, targeting a 10% market share in online channels. He stated that the growth in the Indian audio market is driven by increased sales of smart TVs and a rising demand for OTT content, leading more consumers to seek soundbars.
Marwah highlighted that 85% of online TV buyers also look for soundbars, with nearly half making a purchase. To leverage this trend, Thomson will offer soundbars both as standalone items and in bundles with new TVs.
As per the plans set by the company, Thomson will initially depend on imports for components but aims to boost domestic value addition over time. However, Marwah confirmed that it does not plan to venture into the personal audio segment, such as headphones.
A recent GFK report indicated significant growth in the Indian audio devices market, with offline retail sales reaching ₹50 billion as of June 2024. This surge is being fuelled by consumer demand for high-quality audio products and immersive sound technologies.
Besides Thomson, SPPL is licensed for several international brands, including Blaupunkt, Kodak, and White-Westinghouse.
