Pawan Kumar, CEO, Elista
The consumer technology and durables sector had to face massive challenges in 2022. After colossal growth last year, the industry witnessed market deceleration, exacerbated by inflationary pressures and geopolitical instability. Despite these challenges, Elista continues to fortify its place in the Indian market.
Through our Make In India range of Smart TVs, speakers and sound bars made strong inroads in the consumers’ mind and are offering them a wholesome cinematic experience in the comfort of their homes at reasonable prices. We have recently launched Smart TVs ‘powered by web OS TV’, which gives the next level of clutter-free viewing and sound experience. We have also made a formidable mark in the audio space through our recently introduced soundbar and twin tower speakers.
In the year 2022, we also introduced semi-automatic washing machines with a large capacity that are well suited for the needs of Tier 2,3 and 4 markets. To cater to the needs of the trade, we have also recently launched big-screen energy-efficient monitors that are ideal for people that need high-quality monitors at an affordable price.
We have completed two years of our operations in the Indian market and are bullish about the potential that it holds. We will continue to introduce newer products that disrupt the category and challenge the market leader. In line with our make-in-India strategy, we are also working towards establishing our manufacturing facility in India. Through our consistent efforts, we are looking forward to making India the manufacturing base for our international operations and are completely committed to Make in India for the world.
Technology is bringing about paradigm shifts in the way we connect, communicate, exchange information and conduct our day-to-day lives. It is making innovations possible and driving demand. Notable trends in the consumer electronics segment include expansion into newer segments, increased affordability, a focus on energy efficiency, the growing luxury market, competitive strategies, increased investment and favourable administrative policies. Connected TVs (CTV) are transforming how we watch TV. With the introduction of 5G, digital consumption is expected to rise even further and that will further drive the demand for connected TVs.
The customer does not just want to buy a product. They want to own an experience. Hence everything from the product to visibility to after-sale service should embed the credentials consumers want.