Super Plastronics, a brand licensee for Kodak HD LED TVs for India, on Tuesday said it will invest Rs 300 crore to strengthen its capabilities in IoT technologies to tap emerging opportunities in the smart home devices market.
Phased over three years, the investment will focus on building intelligent TVs that are intuitive and meet the demands of the 'new Indian customer', the Noida-based company said in a statement.
The investment will help Kodak HD LED TV to be a one-stop platform for work-from-home needs for the new customer, it added.
Equipped with large screens, Kodak Android TVs will also connect all the smart home devices in the house.
"We are committed to the Aatmanirbhar Bharat initiative,and Kodak TV will have a first-mover advantage, not only for the domestic market but also to compete globally. Kodak TV is offering aggressive pricing at better technology and expanding its infrastructure in India," Super Plastronics Director and CEO Avneet Singh Marwah said.
According to him, a "new Indian customer" has evolved during the pandemic and the definition of TV has changed.
"It is estimated that by the end of 2023 there will be more than 1 million smart home devices in the Indian market," he added.
Kodak HD LED TVs is developing a mobile application that would integrate the TV and appliances by voice command.
In 2020, Super Plastronics had announced expansion of its manufacturing capacity with an investment of Rs 500 crore.
"Now, we will be expanding our IoT investment so we can continue to give competition to phone brands which are entering into the TV category," Marwah said.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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