The company which is the third-largest player in this segment wants to become the number one in the Indian market in home projectors by the end of December 2021
Taiwan-headquartered projector firm Optoma Corporation is eyeing a bigger play in the home projector space in India. The company which is the third-largest player in this segment wants to become the number one in the Indian market in home projectors by the end of December 2021.
In an interaction with Moneycontrol, Vijay Sharma, Country Head India, Optoma Corporation said remote working has helped the business. He added that working professionals and students helped in the market growth.
“In the home projectors segment, our market share grew from 5 percent in 2019 to 16.5 percent in 2020. The 4k UHD segment has a good traction too,” he added.
In home projectors, Sharma said that products like CinemaX P1 Pro and P2 are finding favour among customers.
“We are launching two to three new products in the affordable 4K lamp-based projector category in the first half of 2021. There will also be a high-end 4K product for customers launched this year in the second half,” he added.
In India, Acer, Epson, BenQ and Optoma are among the largest players in the DLP projector market in India. The market size of projectors in India is about 115,000 per year of which DLP projector constitute more than 50 percent.
Digital Light Processing (DLP) projectors use a DLP chip that contains several millions microscopic mirrors embedded in it. A beam of light passes through the chip to add colours. These projectors are filter free and have properties to display 3D content too.
On the other hand, LED projectors use light-emitting diode technology which is a semiconductor light source that emits light when current flows through it. These projectors are less brighter.
Sharma said that while earlier projectors were considered niche products in India, it is now becoming a mass-market products.
“We are seeing sales from middle-income groups and also non-metros. Since our range starts from Rs 25,000, customers have the flexibility to choose products as per their budget,” he added. These products are currently manufactured in China and Taiwan. However, Sharma said that there is an opportunity to manufacture in India in the future depending on the demand.
Source – Money control English