New Delhi, Jan 20 (UNI) Consumer electronics firm Markson said it targets a revenue of Rs 400 crore by the end of this fiscal and will increase it to Rs 1,000 crore by 2012 with the introduction of several low cost products.
''We have made an initial investment of Rs 100 crore and target a revenue of Rs 1,000 crore in the next five years,'' company Chief Executive Officer (CEO) Sunil Wadhwani said here.
The city-based firm, having three manufacturing facilites one each at Baddi and Parwanoo (Himachal Pradesh) and Hardwar, today launched its wide range of products, including colour television, LCD televisions, laptops, desktops, DTH, home theatre systems and DVD players.
It introduced its combo offer of 14 inch television along with DVD players and speaker systems that will cost the customer Rs 6,000.
The cost of LCD television ranges from Rs 18,000 to Rs 80,000, colour television from Rs 3,000 to Rs 15,000, DTH at Rs 2,000, and laptops at Rs 25,000.
''We are able to provide the products at cheaper rates as our facilities are located under the excise free zone and the same are passed on to the end consumers,'' Mr Wadhwani said.
He added that the company's focus will be on Northern and Eastern regions first and then move on to the Central and Southern regions of the country, Mr Wadhwani said.
With 2,000 dealers and distributors across the country, the company targets to capture five cent of the television market in the country by the end of this fiscal.
The company, that has an initial advertising budget of Rs five crore, will increase it to Rs 20 crore in the near future, he said.
The company plans to launch washing machine, air-conditioners, refrigerators and microwave ovens in the next two months, he said.
The company, a member of Consumer Electronics and Appliances Manufacturer Association (CEAMA), will start registering profit after two years of this venture, Mr Wadhwani said.
UNI MP SBA PDT KP1215