TCL has big plans for growing Indian market

Chennai, Aug 23: To take competitors head on, Chinese consumer electronics major TCL is planning to invest six to seven per cent of its total Indian turnover in brand-building exercise, a top company official said.

Speaking to sources on the sidelines of the launch of the new brand strategy titled 'The Creative Life' here today, TCL India Holdings Private Limited Managing Director Warren Wang said the TCL Corporation had sanctioned a budegtary support of one million US Dollar to fortify its brand image in the Indian market.

''As India is a high growth market for colour televisions, a core team from our corporate office will work in tandem with the existing branch network to expand our base. Having registered a turnover of Rs 325 crore in the last fiscal, we are planning to touch Rs 400 crore this year,'' he said.

Mr Wang said the Indian unit had appraised the parent company about the need for setting up an exclusive research and development and manufacturing facility in India.

Apart from setting up more service centres, the new brand strategy would help us to set a clear branding position in Indian market.

After concentrating further on the mainstream products like CTVs, air-conditioners and washing machines, TCL would enlarge its portfolio by introducing microwave ovens and rice cookers.

Though the Indian market contributed only one per cent to its total global revenue, the company was hoping to take it to double digits in a very short span of time, he added.

UNI