Hyderabad: $5 billion Chinese electronics manufacturer Skyworth Group, which recently announced $100 million (over Rs 700 crore) investment in Hyderabad to make consumer electronic products, is keen to set up a design, research and development (R&D) base along with its manufacturing facility, to develop products that are suitable for India.
Sharing the company’s plans, Skyworth India Electronics MD Criver Liu told Telangana Today, “India has similar population as that of China. There is a potential market and opportunity in the country. Indian government is also coming out with several policy measures to attract foreign investments into the country’s manufacturing sector. India is attracting several foreign brands in the electronics space. Skyworth is also keen on expanding in India. The recent investment marks our concentrated foray into the market. Our facility will be ready next year.”
He added, “Indian consumer has certain tastes and preferences, the way buyers in other countries have. We want to make products that are suitable for the Indian market and the consumer. This calls for a focused design and R&D approach. We will create design and R&D capabilities in Hyderabad so that we give what Indian consumer is looking for. We have strong synergies with Hyderabad-based partner Radiant, with whom we had been having outsourcing arrangement since 2011.”
Shenzhen-based Skyworth has facilities across China, Germany, Indonesia and South Africa and now gearing up for a facility in India.
“So far, we have sold 4,82,000 units in India and for 2020 our plan is to sell 2 million units. Our brands Metz and Coocaa will capture the Indian market soon,” he added. The company sells 15-18 million units each year globally. Skyworth serves 178 markets globally and India is among the top markets for the company on par with Philippines. “We will also come out with new facilities in Mexico to cater to North America, and in Brazil to cater to South American markets,” Liu informed.
The company will also launch artificial intelligence (AI) and internet of things (IoT) based products as well as smart home products in India, as there is a surge in demand.