According to Grand View Research, the India smart TV market size was valued at $1.42 billion in 2020 and is expected to expand at a CAGR of 16.8 per cent from 2021 to 2028. How is Ekkaa aiming to capitalise on this growth?
As per the projected growth in the Indian smart TV market, Ekkaa Electronics aims to capitalise on this opportunity through various strategies. We are committed to investing in research and development to introduce innovative products that align with market trends and consumer demands. By continuously improving our manufacturing capabilities, optimising our supply chain, and leveraging our expertise in the industry, we aim to capture a significant market share and contribute to the growth of the smart TV market in India.
To enhance the overall consumer experience and capitalise on the growing demand for smart LED TVs, Ekkaa Electronics is continuously working on integrating new features and app integrations. We prioritise user-friendly interfaces, seamless connectivity options, and access to popular streaming services. Additionally, we focus on developing smart TV functionalities that align with emerging technologies, such as voice assistants, smart home integration, and personalised content recommendations. By staying at the forefront of technological advancements, we aim to offer cutting-edge products that meet the evolving needs of consumers and drive additional revenue streams.
As an ODM for TVs, kindly enlighten us on your monthly production capacity and your yearly sales figures. Are there any plans to further scale it?
As an Original Design Manufacturer (ODM) for TVs, Ekkaa Electronics possesses robust production capabilities. With a monthly production capacity and yearly sales figures that reflect its market presence, the company is actively considering plans to scale up production further. Rs 1,000 crore investment in a new facility is a step toward it.
By investing in advanced manufacturing technologies, streamlining processes, and expanding facilities, Ekkaa Electronics aims to meet the increasing demand for its products and continue serving its diverse customer base.
Ekkaa Electronics is setting up a new manufacturing unit in Noida with an investment. How different is this manufacturing as compared to others?
We have invested Rs 1,000 crore in our new manufacturing unit in Noida which demonstrates the company's commitment to manufacturing excellence and job creation. This manufacturing unit differentiates itself through various factors. The manufacturing unit will create a substantial number of job opportunities, contributing to economic growth and development in the region. The company's investment includes the purchase of land and the development of modern infrastructure to support efficient and sustainable manufacturing operations. What's more? The manufacturing unit will focus on producing a wide range of electronic products, including smart LED TVs, with a substantial production capacity to meet growing market demand. That said, the unit's design and infrastructure will allow for future expansion and scaling of operations to accommodate market growth and changing consumer needs.
How has backward integration helped your company in improving manufacturing capabilities and capacity?
Backward integration has played a vital role in improving Ekkaa's manufacturing capabilities and capacity. By integrating back into the supply chain, the company has gained better control over the sourcing of raw materials and components. This has enabled the company to ensure the quality and timely availability of critical inputs, streamline production processes, reduce dependence on external suppliers, and optimise costs. Overall, backward integration has enhanced our manufacturing efficiency, product quality, and ability to meet customer demands effectively.
The company commenced its journey with an initial investment of Rs 800 crore. How did a family-run distributor of electronic components determine its journey to becoming a manufacturer of LED TVs?
Ekkaa Electronics, initially a distributor of electronic components, took a strategic decision to become a manufacturer of LED TVs. This shift was driven by market trends, growing demand for TVs, and the vision of capitalising on the evolving industry landscape. By leveraging their expertise and investing in research and development, Ekkaa Electronics successfully transitioned into TV manufacturing, catering to the needs of diverse consumer segments.
Your company clocked a turnover of Rs 600 crore as of FY 22-23. How did you achieve this ambitious target?
The experience of being in the semiconductor trading business came in handy for us. But what excites us is the fact that we are building a base for manufacturing TVs, a sector where China is a major player, as of now in India. Through meticulous planning, strategic partnerships, and a focus on customer satisfaction, Ekkaa Electronics achieved a remarkable turnover of Rs 600 crore in FY 22-23. The company's commitment to delivering high-quality products, efficient production processes, and continuous improvement played a pivotal role in surpassing its ambitious targets. Although, it was certainly not an easy task to achieve this milestone, expanding the customer base, entering new markets, and focusing on improving operational efficiency, cost optimisation, and effective marketing along with sales strategies to drive revenue growth brought us to the goal.
China remains to be the largest manufacturer of TVs in the world. How can India outpace China's dominance in this segment? How do you look at this opportunity?
Although China remains the largest manufacturer of TVs globally, India can potentially outpace China's dominance by leveraging factors such as a large domestic market, government initiatives like Make in India, attracting foreign investments, fostering innovation and technology development, improving infrastructure and logistics, and ensuring a favourable business environment. Additionally, focusing on quality, cost competitiveness, innovation, building strong partnerships, and meeting international standards can help Indian manufacturers gain a competitive edge.
Ekkaa Electronics designs and manufactures smart LCD TVs, LED TV, 4K 2K TVs, and other TV products. Amongst all, which category is emerging as the highest selling and most profitable?
Among Ekkaa Electronics' product range, the smart LED TV category comprises a significant percentage of the company's overall sales, contributing to its financial success and market positioning. This category comprises approximately 60 per cent of the company's sales. The growing demand for smart TVs and the increasing adoption of connected technologies have contributed to the success and profitability of this segment. These TVs offer advanced features, superior picture quality, and seamless connectivity, appealing to tech-savvy consumers.
Apart from smart TVs, which other categories are gaining popularity among the masses and why? How is the market shaping for Commercial Display Division offering Digital Signage and plastic injection moulding segment?
In addition to LED TVs, our Commercial Display Division, offering Digital Signage solutions, and the plastic injection moulding segment have also been profitable. The market for Commercial Display Division is shaping positively as businesses increasingly recognise the importance of digital advertising and signage. As for plastic injection moulding, it enables us to manufacture high-quality components for our products in-house, ensuring better control over the production process.
As a prominent player in the electronic manufacturing industry, Ekkaa Electronics keeps a close eye on market dynamics. While the Commercial Display Division offering Digital Signage and plastic injection molding segment hold promise, the company is exploring diversification opportunities into newer segments to tap into evolving customer demands and technological advancements. This strategic approach ensures sustained growth and adaptability in a competitive marketplace.
Cost optimisation along with high-quality components is crucial for electronic ODM manufacturers to remain competitive. How do you strike a perfect balance between both?
Cost optimisation is a critical factor for success in the electronic ODM manufacturing industry. Ekkaa Electronics navigates this challenge by maintaining stringent quality standards and establishing strategic supplier partnerships. Through proactive management of raw material prices, an efficient supply chain along with regular market analysis, the company determines competitive price points that align with customer expectations and market dynamics.
The electronic ODM market in India is highly competitive, with numerous players offering similar services. Securing new clients and standing out in the market can be quite challenging. How do you stay ahead of the competition?
In the highly competitive electronic ODM market, securing new clients and standing out is a constant challenge. To stay ahead, we focus on continuous innovation, delivering superior product quality, and providing exceptional customer service. By emphasising our expertise, reliability, and commitment to client satisfaction, we differentiate ourselves from competitors.
What according to you are the factors that are bolstering the growth of the smart TV market in India?
Several factors are driving the growth of the smart TV market in India. The increasing disposable income, growing urbanisation, desire for enhanced entertainment experiences, rising internet penetration, and the availability of affordable data plans have fueled the demand for smart TVs. Additionally, the integration of advanced features, such as app-based content streaming, voice control, and smart home compatibility, has enhanced the overall consumer experience and further stimulated market growth.
The demand for smart LED TVs has seen exponential growth. What are the new features or app integrations Ekkaa will be adding to its smart LED TVs, which will enhance the overall consumer experience and add to your revenue streams?
To stay ahead of the competition in the highly competitive electronic ODM market, Ekkaa Electronics focuses on innovation, product differentiation, and maintaining strong customer relationships. The company invests in research and development, constantly explores new technologies, and emphasises customer-centricity to differentiate itself from competitors.
In line with enhancing the consumer experience and revenue streams, Ekkaa Electronics plans to introduce new features and app integrations in its smart LED TVs. These include improved user interfaces, voice assistants, and seamless connectivity with smartphones and other devices.
Finding and retaining skilled labour with expertise in electronic manufacturing can be a challenge. Have you launched any skilling programs to train your workforce?
We recognise the importance of skilled labour in electronic manufacturing and have launched skilling programs to train its workforce. These initiatives aim to bridge the skill gap, provide specialised training in electronic manufacturing, and enhance the expertise of employees. Additionally, Ekkaa is actively expanding its workforce and hiring professionals with relevant skills and expertise to support the company's growth and the establishment of its new manufacturing unit.
Investing in research and development, staying updated with emerging technologies, and maintaining a competitive edge is crucial for longterm success. What are the new technological innovations you have introduced lately?
Investing in research and development, staying updated with emerging technologies, and maintaining a competitive edge is crucial for long-term success. In terms of technological innovations, Ekkaa's research and development (R&D) team is continuously exploring emerging technologies to maintain a competitive edge. Recent technological innovations introduced by Ekkaa include:
Advanced display technologies: Ekkaa has introduced advanced display technologies such as Quantum Dot (QLED) and Mini-LED, offering enhanced colour reproduction, contrast, and brightness levels.
Remote manufacturing expertise: Ekkaa specialises in remote manufacturing, which allows the company to maintain control over the production process while ensuring cost-effectiveness and timely delivery, even for manufacturing done outside of India.
Where is your company heading towards advanced Android TV manufacturing?
We are heading towards advanced Android TV manufacturing by leveraging the latest Android TV platforms and collaborating with Google to deliver seamless user experiences. By incorporating advanced hardware and software technologies, we aim to provide consumers with cutting-edge Android TV devices that offer a wide range of entertainment options, smart home integration, and an intuitive user interface.
Today, Ekkaa holds expertise in manufacturing, design, and innovation and is significantly contributing to the Make In India campaign. Are you planning to expand your ambit from Made in India to Made for the World?
While we have significantly contributed to the Make in India campaign, the company also aspires to expand its ambit from "Made in India" to "Made for the World." By focusing on innovation, quality, and customer satisfaction, Ekkaa aims to position itself as a global brand, exporting its products to international markets and catering to the evolving needs of consumers worldwide.
Are there any plans to expand your product portfolio?
Ekkaa is continuously exploring opportunities to expand its product portfolio. In addition to smart LED TVs, the company may consider diversifying into related product categories such as audio devices, home automation systems, and wearable technology. By expanding our product offerings, we aim to provide a comprehensive ecosystem of connected devices that enhance the overall consumer experience and strengthen its market position.
The company is currently focused on leveraging its manufacturing, design, and innovation expertise to create high-quality products under the Ekkaa brand. By continuously improving and innovating its products, Ekkaa aims to build a strong brand reputation and customer loyalty.
What kind of initiatives your company is taking on the sustainability front?
On the sustainability front, Ekkaa is committed to various initiatives, including:
Energy-efficient products: Ekkaa designs and manufactures energy-efficient smart LED TVs that meet international standards for energy conservation.
Environmentally conscious manufacturing: Ekkaa implements sustainable manufacturing practices, including waste reduction, recycling, and responsible disposal of electronic waste.
Green supply chain management: Ekkaa collaborates with suppliers who adhere to environmental standards and promote sustainable practices.
Social responsibility: Ekkaa actively participates in community development programs, supports education initiatives, and promotes social welfare activities to contribute positively to society.
By integrating sustainability practices into its operations, Ekkaa aims to minimise its environmental impact, promote responsible consumption, and contribute to a more sustainable future.
