Aiwa India eyes $1 billion business over next 5 years
Exploring contract manufacturing partnerships in the first phase and indigenous production in the second phase
Hyderabad: Aiwa India, part of the Japanese consumer electronics maker Aiwa Corporation, is strengthening its footprint in India. Aiwa India Regional Headquarters has been established to manage all aspects of the 70-year legacy Aiwa brand and its products across India and Sri Lanka. The company aims to achieve $1 billion (over Rs 7,400 crore) business in India over the next five years.
Ajay Mehta, MD, Aiwa India Regional Headquarters, told Telangana Today, “Aiwa Corporation is keen to strengthen its product portfolio in the consumer electronics and durable products space. The mandate is to launch several products across the world across categories such as audio, television, washing machines, refrigerators, air conditioners and air purifiers. In February 2021, the Indian unit was formed and this arm is set to replicate the global model that Aiwa Corporation is implementing in the country.”
He added, “In the first phase of our growth, we will look at partnering with contract manufacturers in India. Talks are already in progress with large manufacturers and names will be announced in the next quarter. In the second phase, Aiwa India has a mandate to explore manufacturing in India, to cater to global markets. Southern India is a major market both for electronics manufacturing and marketing and we will have a strong foothold here. We are quickly strengthening our offline and online presence in India through different channel partners.”
Televisions, refrigerators and air conditioners could be contract manufactured in India as part of the first phase, he hinted. On the design front, Mehta added, Japan, Taiwan and China dominate in electronics design and research & development (R&D) globally. Aiwa India will continue to rely on Japanese capabilities for design and R&D. In terms of the competition strategy, he emphasised that Aiwa will continue to offer value-for-money and high-technology audio and consumer electronic products. Aiwa has recently launched a range of personal audio devices ranging between Rs 699 and Rs 7,999. These devices include X80E Wireless Stereo Earphone, AT-80XFANC Wireless Active Noise Cancellation Earphone, ESBT 460 Quad Driver Neckband, ESBT 401 Ultralight Neckband Wireless in-Earphone and ESTM-101 Wired Premium Stereo in-Earphone.
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