After making a mark in refrigerators and washing machines, with the heritage Godrej brand, Godrej & Boyce is now looking at the television segment.
Jamshyd Godrej, chairman and managing director, Godrej & Boyce, told Business Standard, “Televisions would be the next logical step for us to complete our product offering. It is an option we are looking at.”
At present, the company manufactures other appliances like washing machines, refrigerators, DVD players, microwave ovens and air-conditioners.
The entry into televisions will ensure that Godrej has a well-rounded presence in the segment, as colour televisions are considered by analysts as the leader of the consumer durables category.
Godrej said the company was studying the market closely and would not force its entry. He added that the company was waiting to see how the Indian market for LCD and plasma televisions would pan out. While colour televisions still form a substantial part of the market for televisions in India, a large number of replacement purchases are for the flat panel displays — increasingly LCD TVs or plasma sets — in the metros.
However, analysts predict that as more customers graduate towards high-end televisions, prices will fall. For instance, a 42-inch plasma TV can cost around Rs 1 lakh while a 15-inch LCD TV is priced at Rs 25,000.
"The Godrej group often targets the mass markets. It is unlikely that the company will enter the flat panel display segment immediately given the high retail prices," said an analyst.
Entering the low-end colour television segment is the other option the group is believed to be considering, although it could be a while before it takes a final decision. At present, the 8.4 million television segment in India is dominated by LG and Samsung.