CONSUMER ELECTRONICS MARKET ANALYSIS

Key Developments

• In May 2023, Ekka Electronics, a leading original design manufacturer of LED TVs, revealed plans to invest ₹1,000 crore (approximately USD 121.1 million) to set up a new manufacturing facility in Noida, India. The company intends to diversify its product portfolio by venturing into the production of consumer electronics such as washing machines, smartwatches, hearables, and true wireless stereo (TWS) devices. Furthermore, Ekka aims to gradually increase its production capacity at the Noida plant from an initial 500,000 LED TV units per month to a potential range of 800,000 to 900,000 units per month within the next three years.
• In April 2023, OnePlus, a well-known brand in smartphones and consumer electronics, unveiled its flagship tablet- the OnePlus Pad. This tablet embodies the brand's distinctive design philosophy, merging elegance with practicality. By employing their proprietary Star Orbit metal craft and precise aluminum alloy CNC cutting techniques, OnePlus aims to provide a unique, fast, and seamless user experience, setting new benchmarks in the industry and offering consumers exceptional choices, thus, revitalizing the market with fresh opportunities.
• In March 2023, CUI Devices, a prominent provider of electronic components and interconnect solutions, announced that it had signed a distribution agreement with J.P. Electronic Devices Pvt. Ltd., a supplier of electronic components and services across various industries in India. This partnership is aimed at leveraging J.P. Electronic Devices' extensive network and expertise to effectively reach and serve a diverse customer base in the Indian market, thus, enhancing CUI Devices' presence in the region.
• In October 2022, Electrolux, a prominent global appliance brand, inaugurated its maiden exclusive retail store in Bengaluru, India. This launch signifies the company's first brand-specific outlet in the city, with intentions to open 50 more such stores by the end of the year in collaboration with leading retailers. The 3,500 square-foot exclusive showroom boasts an open layout, enabling consumers to participate in live demonstrations and interact with a wide range of products, including air purifiers, air conditioners, washing machines, vacuum cleaners, refrigerators, dishwashers, dryers, and coffee machines, thus, facilitating informed purchasing decisions.