Micromax, a mobile manufacturer in India, has entered into the home entertainment market by launching a new range of LED television sets ranging between Rs. 15,990 and Rs.1,29,990. The company along with the LED TVs, has also introduced a new range of home theatre systems with 5.1 surround sound speakers, a 3D Blue Ray Player, which supports both 2D and 3D content and an Android dongle namely Micromax SMART stick. The company is targeting 8 per cent market share and plans to invest Rs 100 crore in the segment over the next three years.
The company has installed a 1 lakh square feet manufacturing unit spread over five acres, with a production capacity of 2,000 LED TVs per day at Rudrapur, Uttarakhand. The firm has planned to introduce the offerings initially in 9 states viz. Delhi, Haryana, Madhya Pradesh, Punjab, Maharashtra, Rajasthan, Andhra Pradesh, Karnataka and Gujarat. It will also deploy a two-tier distribution channel to reach out to 170 cities and build a strong consumer connect.