Daiwa is an acclaimed brand which aims to provide a robust portfolio of products at the right price to its customers.
Mr. Arjun Bajaaj, CEO & Founder Daiwa,a graduate from University of Essex, UK (Business Management), brings innovative marketing strategies and business acumen to create a strong base.
During an exclusive conversation with Mr. Arjun Bajaaj and Mobility, he explained how he aims to bring strategic technologies to forge new market trends and set new standards for excellence in India.
Brief us about 4K Smart TVs powered by webOS TV.
Mr. Arjun Bajaaj– Smart TV powered by webOS TV is an operating system by LG. The webOS TV goes beyond traditional Smart TVs. Its UI is more simplistic and doesn’t take up the entire screen. The webOS TVs bring endless content possibilities from a plethora of apps and platforms across all genres at the click of your fingers on its Magic Remote. WebOS TVs are also easier to navigate because of their magic remote and features all the essential streaming apps that one would like to use on their TVs. The TV can also be operated through the user’s voice, with the ThinQ AI voice assistant. The TV also lets users manage the TV with personalized recommendations & also content selection.
Furthermore, the webOS TV is compatible with 4K Ultra HD programming, HDR-powered movies, games, and TV shows. The webOS TV can control several compatible home devices with its Universal Control Feature via Magic Remote. The TV comes with a host of other features like MEMC and ALLM that allow 4K content and games to play at 60 FPS, two-way Bluetooth 5.0, Universal Control to control all your connected devices with Magic Remote such as Set-top box, soundbars, Etc. The TV produces an excellent & accurate cinema viewing and audio experience with D6500 Colour Temperature Calibration on Cinema Mode and Dolby Audio. Globally, webOS is ranked No. 2 with a 7.3% market share after Tizen, at 12.7%.
What are the growth opportunities in the LED Tv segment in India?
Mr. Arjun Bajaaj: Asia-Pacific is the dominating market for smart TVs and is expected to continue its dominance over the forecast period, owing to increasing demand for smart TVs by end-users. Currently, India has over 200 million households, of which 170 million have a TV – 100 million of those are CRT TVs, and 70 million have a flat monitor. Furthermore, Smart TV penetration is only 20 million. So if you look at this overall market, there are 50 million people who would be coming and buying a smart TV, and even the 100 million households who have a CRT will be upgrading directly to a smart TV, which showcases the massive opportunity for the brands in India.
The Smart TV market in India from 2018-24 is expected to grow by a CAGR of 30.2%, as per recent research. The market is still dominated by 32″ with 65% share; however, we see a growing acceptance & demand for bigger sizes 43″ and 55″. With webOS TV out in the market, we expect strong demand in markets.
What are the best sellers of your brand?
Mr. Arjun Bajaaj We have our 32-inch & 43-inch FHD TVs and 4K and 55-inch 4K TVs with WCG and Built-in Soundbar for Daiwa. However, with the latest launch of our 50-inch Smart TV powered by webOS TV, we have seen a massive spike in our sales, and its demand ranks top in the ranking of our 4K Smart TV range. Other than this, among our range of Washing Machines, the best sellers have been both 6.5kg and 8kg.
Explain the strategies for channel partners.
Mr. Arjun Bajaaj: Daiwa is a channel-friendly company, and we believe in growing with the channel partners. We consider our channel partners an essential part of our growth, contributing to our brand image. Regular engagement activities and training sessions with our channel partners across multiple states helps us establish a strong relationship and work together as a team. Employing several pieces of training, we empower our channel network by assisting them to increase their technical knowledge & proficiency. Our customers expect a high standard of channel preparedness, and our programs are designed to exceed those expectations.
We are aggressively working on expanding our channel network. We already have 800+ Service Centres across India covering over 19000 pin codes. By the end of 2022, we will cover 90% channel network across the country. We focus our efforts on being present across all touchpoints to offer the best services to our consumers. Our goal is to provide the best products and best service to our partners and consumers, and that is what we strive to do every day.
What are the focus areas for the next years?
Mr. Arjun Bajaaj: The Daiwa 4K smart TV powered by webOS TV is a part of our grand plan for the Indian landscape. Being the first Indian brand to launch webOS TVs, we aim to make this big in volumes. With our other Android-based TVs, we shall be launching the best UI experience with content, AI, Voice recognition, and several added functionalities at the most prudent prices. Very soon, we shall also announce our new range of washing machines with the offline network.
Traditionally people like to view TVs in person before committing to a purchase, which is where Daiwa’s strong & growing offline retail model builds new opportunities for us. By 2022, we aim to be available in more than 25 states and 5-6 Union Territories in India. We are working through our existing infrastructure to establish an assertive brand outreach. We are also investing in enriching the customer experience at Daiwa. We shall launch Customer service chatbots redefining customer engagement with AI. The fundamental goal at Daiwa is to bring affordable screens with outstanding quality and the latest hardware and software designed as per the Indian audience.
Overall, we aim to break the myth that India’s finest products come only at hefty prices or local brands win big by going low on price. The truth is that we are better able to understand the value proposition. We at Daiwa focus on improving the quality muscle and embrace the competition with Made in India, for India; product offerings.