TEAC products to be manufactured in India soon

New Delhi, May 26: TEAC, a Japan based leading audio and video product producer, today announced it will start manufacturing and distributing its lifestyle products in India with a strategic tie up with Salora International.

''The Indian economy is booming and it is the right time for us to enter the market. We have identified Salora as our India partner because of their strong manufacturing base and distribution network, and have signed two agreements for distribution and manufacturing.

Salora has the sole right to manufacture and distribute our products throughout the country,'' TEAC General Manager (GM) (Consumer Products Overseas) Hiroshi Toku-Shige told reporters here today.

On a poser on its predicted business in the country Mr Toku-Shige said,''We expect to have a business of 100 million dollars in the next five years. Our current focus is in creating awareness about our products to the Indian consumers.'' The GM also said the company is also planning to enter into the computer peripheral business soon.

''We are seriously planning to introduce our computer peripheral systems in India. We are still in talks with Salora on this and expect to roll our products in a few months,'' Mr Hiroshi Toku said.

TEAC also supplies recorders and other products to NASA and other space agencies, but do not have any plans to come up with that in India in the near future.

Salora has already started the trial production and expects to start proper production by next month.

''We have invested about Rs one crore in upgrading our manufacturing plant in Noida and will be producing TEAC's products there. TEAC will provide us with the latest technology and our engineers will be working with TEAC's R&D team to adopt, and customise these products sutiable to the Indian customers,'' Salora International Ltd Managing Director Gopal Jiwarajka said.

In the first phase Salora will produce TEAC's colour televisions (CTVs)and DVDs.

The price of the CTVs will range from Rs 5,000 to Rs 17,000, while the audio systems will range from Rs 6,000 to Rs 30,000.

TEAC has manufacturing facilites in Japan, Malayasia, Indonesia, Singapore, Hong Kong and China.

UNI