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Exclusive: Daiwa To Launch Two New Smart TVs In October, Founder Arjun Bajaj
Smart TVs prices have gone up due to the increased prices of open-cell panels. All leading brands, such as Xiaomi, Realme, LG, OnePlus, and Samsung have increased prices silently. Similarly, Indian consumer electronics manufacturer has increased prices of their products. Meanwhile, we interacted with the company founder and CEO, Arjun Bajaj, regarding the newly launched product, competition, and future lineup.
Please tell us about the USPs of the newly launched television?
Daiwa becomes the first Indian brand to launch 4K smart TVs powered by webOS. The first line-up under the webOS TV operation system is a 50-inch 4K UHD smart TV with ThingQ AI voice assistance and a magic remote.
The Made in India smart TV comes with several key features to highlight: augmented audio experience with 20W surround sound box speakers coupled with Dolby Audio sound technology. The television allows users to control the connected devices through voice assistance via magic remote or smartphone with the LG ThinQ App.
What kind of expectations do you have with the new range?
The response has been promising and we see growing consumer interest to adopt webOS TVs. The new move by Daiwa will further elevate the intelligent ecosystem experience for our users.
Is any other segment you are planning to foray into this year?
Yes, it's all in the pipeline. We have already entered the washing machine space and will be launching a new range with new technologies in the coming month. However, we are under the R&D phase for other categories and will soon make a big announcement.
Please tell us about the upcoming products?
We will be launching five more models in this financial year, where two models based on webOS will be available in October. Also, we are planning to expand our washing machine range.
Are you planning to increase the prices of your products?
The prices of TV panels (Open cells) have been steadily rising by over 300-400 percent and most of the brands increased their prices between 30-40 percent and so did Daiwa. This is due to the shortage of supply from the global vendors and an increase in demand. There has also been a global shortage of IC's/semiconductors while increased demand for raw materials.
The delivery time for goods into India has gone up from 28-30 to 50 days, which leads to a delay in the delivery time of the goods and a complete change in production plans.
On top of this, the ocean freight cost has gone up five times compared to before COVID, increasing the overall freight cost so this time we have not decided on increasing the prices of the products as it all depends on the evolving situation.
What are your thoughts on the competition?
Moving towards a certified platform has given us an edge over our competition, who are still running on old technology. There are very few brands in India that have a strong network of more than 800+ service centers. We cater to 19,000 + pin codes cities at the pan India level. We are also able to offer a seamless installation, repair, or query experience to customers from tier three-tier four cities, where most brands struggle.