India handset manufacturer Micromax has announced its foray into the TV business, with the launch of a range of LED TV sets.
"[Going into] televisions is a natural progression. As consumers evolve, they want their devices and experience to be smart and personal. We aim to partner the growing aspirations of the digital consumers at all levels," said Rajesh Agarwal, managing director and co-founder of Micromax, in a report Tuesday by NDTV.
The company said compared to mobile phones, televisions were a long-term interface and there was a demand for a seamless experience when consumers shifted from one screen to another.
To that end, it is also launching what it calls a SMART Stick, which is a dongle which turns the television set into a Android-based Smart TV.
Micromax is targeting to have 5 to 8 percent of its revenue, or around 1.4 billion rupees (US$25 million) to 2.25 billion rupees (US$42.4 million) in the fiscal year, he noted, adding the aim was to raise its contribution to revenue to 20 percent in two years' time.
It is targeting 8-10 percent market share of the LED TV market.
The LED TVs will be initially launched in nine states, including Delhi, Haryana, Maharashtra, Karnataka and Rajasthan. They will range from 24-inch to 55-inch options, and be priced between 15,990 (US$301) and 129,990 rupees (US$2,543).
The company currently sells mobile phones and tablets in India, South Asia and the Middle East. It claims to be the top tablet maker in India, and the 12th largest handset manufacturer in the world. Micromax is currently dominating the tablet space in India with 18.4 percent market share, followed by Samsung with 13.3 percent for the three months to June, according to CyberMedia Research.