Compelled by the undying passion for technology, Daiwa entered the TV Segment in India with one purpose; offering unprecedented, ground-breaking technology with unmatched quality products and prices. With the tenets of the company grounded in quality and matchless technology, Daiwa is steadfast in its adherence to push the company to unseen heights.
Upholding the philosophy of creating one’s own roadmaps, Mr. Arjun Bajaj begun his entrepreneurial journey with Daiwa in 2016. In the further interview, he explains his role as the CEO and Founder of Daiwa.
DC: Tell us a little about yourself and Daiwa.
Mr. Arjun: Daiwa begun its journey in the Year 2016 on the pathway to sync the ongoing problem in the TV Industry. We realized that the TV Market was going through a very troubled time period, wherein most of the brands were sourcing final products from China and assembling in India and calling it ‘Make in India’ and lacked implementation, which is where we felt the need to build a brand which truly resonates the ‘Make in India’ philosophy not only in terms of its design and performance but also functionalities designed as per the needs of the audience. Daiwa comes from the parent company Videotex a popular ODM company for LED TV’s which has been in the Industry for over 35 Years. Today Daiwa, brings the complete back end integration for manufacturing LED TV’s in India and are currently having a capacity of manufacturing 3000 TV’s in day and are further planning to invest more in factories. Today Daiwa, is reckoned among top 10 TV Brands in India, and has established a very strong foothold, at Pan India Level.
DC: How has the journey been in India so far?
Mr. Arjun: Ever since the beginning, we have focused on bringing the latest in technology at most prudent prices in the Indian market. The journey has been exciting, but extremely challenging considering the on-going situation of the Indian Consumer Durables market as well. Despite of all the hassles on its way, Daiwa has been recognised among the top 10 TV brands, bringing luxury at affordable price points in India, in a span of over 3 years. In India, Daiwa has put all the efforts to break the trade-off between innovation, quality, and cost. Today Daiwa has proudly earned its place amongst the leading brands for Televisions in India and sells its products in all leading retail stores and online portals, not just that it also sells units from its own website.
DC: Please tell us about the services you provide that makes the brand unique in the mid of cut throat competition.
Mr. Arjun: Daiwa has always focused on building the latest in technology at most prudent prices, exclusive to the Indian markets. In terms of the uniqueness, its two-fold, balancing both the Products and services. Among products, we have brought several new technologies in India which includes Wide Color Gamut to Pictures, Tailoring the speakers as per the Indian needs, Unique remote with direct app keys and keyboard with easy surf on Smart TVs, balancing voltage fluctuations for TV as per Indian power conditions etc. Our Goal has always been to go the extra mile in terms of the deliverables to the consumers. We do not want to follow the stereotyped industry, and each one of our products resonates the same viewpoint.
Among services too, we have gone a step ahead and launched our own Daiwa App, a service app which allows customer interface 24x7, which got us phenomenal response. Apart from this, our additional product Warranty too has established consumer confidence on Daiwa products. We promise to provide value for money to customer in addition to best in class technology. Daiwa’s main objective is to break the myth that the finest products only comes at a hefty price.
DC: Tell us about Daiwa’s overall manufacturing capabilities and capacities.
Mr. Arjun: Currently we have 2 manufacturing units in Greater Noida and Ludhiana, own R&D centre and design house in Shenzhen, China and Greater Noida, India. We Manufacture our PCBs in India having complete backward integration setup for SMT, MI, FA, Clean Room and Moulding for our tv cabinets. Capacity to produce 1.5 million PCB’s and 1 million tv’s in a year. Also, we are known in the market for our Reverse Logistics – that takes effective steps for waste management, Green Marketing – for eco-design of its products and energy efficiency products, lastly Green Manufacturing – to reduce environmental pollution.
DC: What can be seen from the brand in the future?
Mr. Arjun: Indian Market at present is very aggressive and likewise Mobile industry; TV industry has also seen a load of fragmentation, it’s in the same transition where Mobile Industry was; innumerable new brands have cropped in for which now ‘sustenance is the key’. In terms of expansion, we are designing new products to bring solutions which are going to be the most ground-breaking in the Indian TV industry. However, apart from these our chief functioning is establishing a stronger foothold and expanding at Pan India Level Especially Tier 2 and Tier 3 Markets. We are focusing on the distributor network, bringing a presence in the online and offline market but also, connecting to the consumers from the grass-root level. Also, Daiwa is focusing on building new smart TVs, where we are directly in talks with OTT players and customizing the UI for a friendly user experience. A lot on emphasize shall be on smart TVs, which would provide rich and enhanced visual experience in the coming year.
DC: Share your views on the current business scenario in India.
Mr. Arjun: India has emerged as the fastest growing major economy in the world. There is a growing competition in every sector leading to price sensitivity with cluster of brands and too many changes in policies and taxes, which has overall tainted the scenario. However, in another 2 years we shall outgrow from this, with lot of competition shedding off the market, that’s when the Consumer Durables Market shall enter a new phase and so shall India for Electronics....