Q1. The Indian smart TV market reached $1.42 billion in 2020 and is set to grow significantly through 2028. How is Ekkaa gearing up to ride this wave of growth?
Answer: Ekkaa Electronics is gearing up to seize the opportunity presented by the growing Indian smart TV market with several key strategies: We’re investing in R&D to create innovative products that match current market trends and consumer needs. This helps us stay competitive by offering smart TVs with advanced features and better performance. We are constantly improving our manufacturing processes and optimizing our supply chain. These enhancements increase efficiency, reduce costs, and enable us to scale production to meet rising demand. Ekkaa is also integrating new features and popular apps into our smart TVs to boost user experience. This includes easy-to-use interfaces, seamless connectivity, and access to top streaming services and our team is focusing on adding smart functionalities like voice assistants, smart home integration, and personalized content recommendations. These innovations ensure our products meet the latest consumer expectations. By keeping up with the latest tech trends, we ensure our products are cutting-edge. This approach helps us stay relevant in a fast-changing market and attracts tech-savvy buyers. Through these strategies, we aim to capture a significant share of the Indian smart TV market. This will contribute to our growth and drive new revenue streams.
Q2. With intense competition in the Indian electronic ODM sector, what unique strategies are you employing to attract and retain clients?
Answer: In the fiercely competitive electronic ODM market, attracting and retaining clients requires unique strategies. Continuous innovation is a top priority to ensure products remain cutting-edge and meet market demands. Superior product quality builds trust and loyalty among clients, while exceptional customer service fosters long-term relationships.
Ekkaa Electronics, established in 2018 and headquartered in Sonipat, Haryana, specializes in designing and manufacturing LED TVs. As a market leader in India, Ekkaa offers a range of TV sizes from 24″ to 98″, catering to diverse client needs. Efficient and effective product delivery to ODM partners is a key focus, supported by a fully backward integrated plant that ensures complete control over design, software, and components. This integration helps tackle global semiconductor shortages and differentiates products for brands.
A dedicated team of software development professionals provides application integration, branding, and advertising solutions for smart TVs. Emphasizing expertise and reliability, Ekkaa Electronics aims to stand out in the competitive market by focusing on innovation, quality, and customer satisfaction.
Q3. Can you share how backward integration has played a role in boosting your manufacturing capabilities and production capacity?
Answer: Backward integration has been essential in boosting Ekkaa’s manufacturing capabilities and production capacity. By integrating into the supply chain, Ekkaa has gained better control over sourcing raw materials and components, ensuring the quality and timely availability of critical inputs. This integration has streamlined production processes, reduced reliance on external suppliers, and optimized costs. As a result, manufacturing efficiency has improved, product quality has increased, and Ekkaa is now better equipped to meet customer demands effectively.
Q4. What was the company’s turnover for FY 23-24, and how does it compare to the ₹600 crore from the previous year? What key strategies drove this growth?
Answer: Ekkaa Electronics has achieved a striking turnover of ₹600 crore in FY 23-24 as compared to FY 22-23 of ₹471 crore, which has been a significant milestone in its growth journey. The company’s background in semiconductor trading proved beneficial, but the true excitement came from establishing a strong foundation in TV manufacturing, a field where China currently leads. This success was driven by careful planning, strategic partnerships, and a relentless focus on customer satisfaction. By expanding its customer base, entering new markets, and improving operational efficiency, Ekkaa was able to surpass its ambitious goals. The emphasis on cost optimization, along with effective marketing and sales strategies, played a crucial role in driving revenue growth and reaching this remarkable achievement.
Q5. How do you see the market for smartwatches, hearables, and TWS evolving in 2024, and what opportunities do you foresee?
Answer: The market for smartwatches, hearables, and TWS (true wireless stereo) earbuds is expected to continue its strong growth in 2024, driven by rising consumer interest in wearable technology. Smartwatches, in particular, are projected to see significant expansion, with an estimated growth rate of 48.6%, reaching $124.5 billion in 2024, up from $82.5 billion in 2023. This growth is fuelled by their increasing affordability and the addition of more advanced features.
Hearables are also on an upward trajectory, with a projected growth rate of 35.2%, anticipated to reach $57.3 billion by 2024 from $42.4 billion in 2023. The rising popularity of audio streaming, enhanced communication capabilities, and a broader range of features are key drivers of this growth.
TWS earbuds are expected to see the most dramatic increase, with an estimated growth rate of 67.4%, reaching $73.8 billion by 2024 from $44 billion in 2023. This surge is attributed to improved sound quality, sleek design, and the growing demand for wireless audio solutions. Overall, the future looks promising for these wearable devices, with ample opportunities for continued growth and innovation.
