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Good times for the CTV sector
Even as good times dawn for the CTV industry, domestic players are slowly being pushed out of reckoning, say ORG figures
agencyfaqs! News Bureau
NEW DELHI, October 17
After a long time, the CTV sector is looking up. Last month, the industry grew by 9 per cent. Reassuring news, especially as in the corresponding period last year, the sector grew by 8 per cent. The figures were released by the market research agency ORG recently.
And hopes of attaining the five-million mark, which most manufacturers had given up as unattainable, are suddenly blossoming. Times are good, say industry sources, pointing out that with the festive season, things are looking up. Diwali, when buying really picks up, is just around the corner.
However, it is the multinational companies that have gained at the cost of the domestic brands. Aiwa went up by 1 per cent, from 7.8 per cent in August 1999 to 8.8 per cent in August 2000. LG has also gone up by 1 per cent, from 5.7 per cent to 6.7 per cent. Sony has gone up from 2.9 per cent to 3.4 per cent.
Samsung has grown from 6 per cent in August 1999, to 8.5 per cent in August 2000. Company officials said that they were confident of reaching the 10 per cent mark soon. In the first eight months the company had a turnover of Rs 700 crore, and in the next four months the company is gunning for a turnover of Rs 500 crore. The company has launched the innovative Shubh Wedding scheme which offers concessions on CTVs, refrigerators, washing machines and microwave ovens.
Philips was the sole exception among the winning multinational companies, watching its market share go down to 4.1 per cent during August 2000. Last August, the company did better. Its market share was 5.6 per cent. And pundits do not see Philips recovering soon.
Videocon has lost too, with its market share coming down to 9.8 per cent from 14.2 per cent in August 1999. BPL has lost one percentage point. In August 2000, the share of the company was 19.3 per cent. In August 1999, it stood at 20.9 per cent. Last year, Onida was at 12.5 per cent. Now it is at 11.2 per cent.
Not-so-good news for the home-grown manufacturers.
© 2000 agencyfaqs!