- Japanese manufacturer AKAI ties up with Reliance Retail with the launch of the Akai Smart TV to begin the expansion of its portfolio and market size in the country
- AKAI’s tie up with Reliance retail with its Smart TV spells out quick development India’s rapidly maturing consumer electronics market
NE BUSINESS BUREAU
NEW DELHI, SEP 17
AKAI India on Wednesday announced that it has entered into a retail partnership with Reliance Retail to expand its portfolio and reach consumers PAN India. With products being placed in over 540 stores pan-India, the association will help to expand AKAI’s innovative portfolio of home entertainment products to a larger audience. AKAI’s Smart TV is set to be launched with an introductory price of Rs 9,999 for the 32-inch range only on Reliance Retail market channels. This in itself is an enticing prospect that’s set to draw in massive demand from consumers at a go. Additionally, with the AKAI’s innovative Magic Remote, and Ease of Consumer Access to interactive entertainment, this tie up shows promise.
Commenting on this, Anurag Sharma, Director – AKAI India says, “This tie up with Reliance retail is not only prestigious but highly beneficial for both sides of the coin. With this association AKAI can deliver home entertainment products across the country and penetrate this growing market. This will also help us to provide the consumer, an access to the latest and most innovative technology by carrying forward the Japanese legacy on constant improvement.”
The move comes at a time when the country is going through a phase of rapid urbanization, rising disposable income, and the introduction of novel products, that’s set to skyrocket the consumer electronics market size to 124.94 billion USD by 2030 at a CAGR of 6.5% from 2022-2030. The size of the market as of 2021 stood at 71.2 billion USD, with TVs making up a substantial share of the same. AKAI’s tie-up with reliance taps into a quickly growing product segment where sales grew by 55% in 2021.
Additionally, the new position is set to leverage AKAI’s unique and innovative products by combining them to the robust omnichannel market approach followed by Reliance retail, with established competencies in scaling local manufacturing and sourcing efficacy.
Additionally, the tie up also is set to move forward one-step at a time with both brands in tandem to shell out new product launches successively. AKAI will be introducing its Web OS, 4K Smart TV, Home Audio and Washing Machine range in near future as well. AKAI seeks to expand its market wide reach by pioneering consumer electronics products driven by the sole purpose of adding value to consumers’ lives in a way this country has never experienced before, while Reliance retail comes becomes the torch bearer of such high-key innovation delivered to the masses pan-India.
