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India Can Expect a V-Shape Recovery Post Covid Due to Market Size and Increasing Consumerism

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In conversation with DeviceNext, Mr. Avneet Singh Marwah, Director and CEO, Super Plastronics Pvt. Ltd. a Kodak brand Licensee, talks about the covid affected year and how India can recover after pandemic and gain from good reforms in local manufacturing segment.

After getting the brand licensee of Kodak, SPPL have successfully established Kodak TV as a value for money brand. The latest bezel-less Kodak CA series  got a very good response form the market,  which is equipped with spectacular features like the 4K HDR10 display, Dolby Digital plus and DTS TruSurround. It provides multiple connectivity options with USB 2.0, HDMI ARC/CEC and Bluetooth v.5.0 (latest version) with user friendly remote. CA series has the latest Android 10 interface and provides easy access to Google Assistant for user friendly navigation.

2020-21 is tough for every business, though demand for home entertainment increased but due to component costs, manufacturing halts, things did not turn out well, what’s your assessment?

We saw a huge pent-up demand for consumer electronics after the unlock. However, the second wave interrupted the demand we saw huge slowdown in sales during this period. One of the main reasons was the disposable income of lower middle class and middle class has been severely affected by the pandemic.
In last one year, there has been increase of 400% in panel pricing and freight cost has been all time high, brands had no choice but to pass on to customers. Therefore, Q4 of 2020 had become really challenging for all of us, apart from that supply has been erratic. Overall, it has been years with lots of challenges, we hope markets should recover soon.

Many industries are expecting a V shape recovery, what is your thought on the TV and overall home entertainment industry?

India can expect a V-Shape recovery post coronavirus crisis due to market size and increasing consumerism. Market will bounce back, as, and when ease of lockdown will start happening. In last one year, large screen TVs have witnessed huge demand. This will grow in coming times, as tendency of buying 2 nd tv in Indian household is witnessing a spike. With more of OTT content being produce, individual liking may defer that will lead to tv in other room.

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What kind of recommendation do you want to pass on to the Govt, to power local manufacturing after the pandemic?

With the COVID-19 outbreak government of India has also realized that we cannot keep depending on other countries for raw materials and with Atmanirbhar Bharat we need to maximum value addition in next 4-5 years.

“India needs an investment in open cell plant, we are pleased that some business houses have shown interest. We need to covert those opportunities to reality, if we have to compete at a global stage”

Impact due to geopolitical situations.

I feel India has been a target because of its geopolitical situation. I would not hesitate to inform you Chinese brands gets more preference and availability in terms of pricing and stock. Four out of five-panel manufacturers plants have Chinese government support. Their strategy has been simple burn and acquire market share.

How was the response at the last BSD sale on Flipkart?

Kodak and Thomson got over overwhelming response. We became top 2 online selling brand online.
Flipkart is coming up with monsoon sale where we are offering cash back, bank offer and exchange offers.

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