Blaupunkt, German consumer electronics maker announced that it will invest around US$ 300 million (Rs.2,158 crore) in the television business in India in upcoming 3 to 5 years along with its India partner.
Blaupunkt Tuesday introduced eight TV models in three series, ranging from Rs. 12,999 to Rs. 47,999. The company has tied up with e-commerce major Flipkart and its TVs would be sold exclusively through this channel only.
Blaupunkt managing director Andrzej Cebart said, “We have plans to invest $300 million in next 3 to 5 years. This would be together with our local partner (Trigur Electronics).” The investment would be made by Blaupunkt and Trigur Electronics jointly on marketing/branding and manufacturing at Trigur’s plant in Sonepat, Haryana.
Blaupunkt and Trigur have entered into a long-term licence agreement, he said “We have a long time agreement. We have a minimum 10-year vision and beyond.”
Blaupunkt Television India MD & CEO Karan Bedi on plans to go offline or to other online channels, said, “We have no such plans as of now and we would continue to sell with Flipkart”. Blaupunkt, which would sell its products in Sri Lanka, Nepal, Bangladesh besides India, aims to have a business of Rs. 500 crores in next 12 months, according to Bedi.