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
Bengaluru, September 14, 2022: AKAI India 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.
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.
About Akai India
AKAI India is a leading Consumer Electronics company with widespread offerings in Television, Washing Machines, Air Conditioners, Air Purifiers, Home appliances and other Consumer durables. AKAI India is being operated by Hometech Digital Pvt Ltd which is a PARAS Group company. PARAS Group is a multi-business company with its operations in Retail, distribution of Consumer Electronics, Telecom, IT and non-banking financial services (NBFC). Living with the ideology of ‘Customer First,' AKAI has a lineage of more than eight decades and has managed to achieve a strong recall among the large consumer base. Present across various markets in India; the company plans to expand its footprint pan India and be one of the top 5 Consumer Electronics brands by 2020. AKAI has its origin in Japan and is now present worldwide.
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