Consumer electronics major Samsung is aiming to sell around 40 LED cinema screens 'Onyx' in the country by 2022, a company official said on Thursday.
The company is expecting a good business opportunity in the segment as the movie exhibition industry is expanding and is getting updated with modern technologies.
"The company is looking around 20 screens by 2020 and then we would double it around to 40 around 2022," Samsung India Vice-President (Consumer Electronics Enterprise Business) Puneet Sethi told PTI.
According to the company, there are over 10,000 screens in the country that are currently operating through the traditional projector system and this provides an opportunity to it to convert into the modern LED screen system.
"We are confident that this business is going to grow many times," he said.
Samsung is providing Onyx LED cinema screens in three stock keeping units - in the screen sizes of 5 metre, 10 metre and 14 metre.
Normally, it costs around USD 0.8-0.9 million for total solutions of a 14-metre screen along with sound ecosystem, Sethi said.
Currently, leading cinema chain operators as PVR, Inox and Cinepolis are operating one 'Onyx' screen at their respective networks.
Samsung along with group company Harman Thursday launched the Onyx Cinema LED Screen in Bengaluru at iconic Swagath Cinemas.
With the 14-metre screen, it will now be rechristened as Swagath Onyx Theatre, which would have the largest Onyx Cinema LED screen format in the world.
Globally, there are only two other 14-metre Onyx Cinema LED screens installed by Samsung to date, in Malaysia and China.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)