Mobile handset maker Micromax on Tuesday announced its foray into the television segment with the launch of a range of LED TVs priced between Rs 15,990 and Rs 129,990.
The company expects a revenue of Rs 225 (Rs 2.25 billion) crore from the TV segment in this fiscal.
"Television is a natural progression. As consumers evolve, they want their devices and experience to be smart and personal. We aim to partner the growing aspirations of the digital consumers at all levels," Micromax MD and Co-founder Rajesh Agarwal told PTI.
The company is targeting 5-8 per cent of revenues (Rs 1.4-2.25 billion) this fiscal from the television segment, he added.
The LED TVs will be initially launched in nine states including Delhi, Haryana, Maharashtra, Karnataka and Rajasthan across 24-inch to 55-inch range. The televisions will be priced between Rs 15,990 and Rs 129,990.
Micromax, which sells mobile phones and tablet PCs in India, SAARC and the Middle East countries, is aiming to grow overall revenues to Rs 2,800 crore (Rs 28 billion) for year ending March 2013.
"In the next one year, we are looking at sales of 100,000 units (TVs)... In the next two years, the aim would be to increase the TV segment contribution to 20 per cent of the revenues," Agarwal