Thomson Expands into India's Booming Audio Market with New Soundbars

French consumer electronics brand Thomson, through its licensee SPPL, has launched soundbars in India, marking its entry into the country's growing audio market. With a Rs 50 crore investment to set up a new manufacturing unit, Thomson aims for a 10% market share in the online audio segment. The company plans to offer separate and bundled options for soundbars with its TVs.

French consumer electronics brand Thomson, represented by its brand licensee Super Plastronics Pvt Ltd (SPPL), announced on Thursday its official entry into the Indian audio market, launching a range of soundbars.

Already established in the TV and appliance sectors in India, Thomson plans to broaden its audio offerings with more soundbar models and intends to enter the larger speaker and party speaker segments, according to SPPL CEO Avneet Singh Marwah.

SPPL has invested Rs 50 crore in a new manufacturing unit at its existing Noida plant, set to produce half a million units annually, Marwah stated. "We are aiming for a 10% market share of the audio segment in online channels," he added.

Marwah highlighted that the Indian audio market is witnessing rapid growth, spurred by increased sales of 4K smart TVs and the rising consumption of OTT content. To capture this demand, Thomson plans to offer bundled deals with its televisions, providing customers the option to purchase soundbars separately or as part of a package.

Initially, the company will rely on imports for components but aims to increase domestic value addition over time. However, Thomson has no plans to enter the personal audio market, including headphones.

A recent GFK report noted significant growth in the Indian audio devices market, with offline retail sales reaching a Rs 5,000 crore moving annual turnover (MAT) by June 2024. The demand is driven by consumers seeking a cinematic audio experience and convenient listening.

Besides Thomson, SPPL holds licenses for several international brands in India, including Blaupunkt, Kodak, and White-Westinghouse.

(With inputs from agencies.)