Videocon Telecom's security and surveillance arm Videocon Wallcam today announced expansion to eastern India with an aim to garner revenues of up to Rs 276 crore by 2021.
The company will start selling surveillance products in West Bengal, Bihar, Jharkhand, Odisha and northeast in 7-10 days across around 4,000 stores.
"Eastern market will be our key focus market, and we are set to leverage on the opportunity and are targeting 10-12 per cent market share in the region by 2021.
The security and surveillance market in India is approximately Rs 6,600 core, of which the eastern region comprises only about 9 per cent or Rs 600 crore.
The overall security and surveillance market is expected to grow 2.5-times by 2021 to reach Rs 15,000 crore, and by this time, the eastern region will contribute to approximately 15 per cent of the total market at about Rs 2,300 crore, the statement said.
"Videocon Wallcam is eyeing 10-12 per cent market share (about Rs 230-276 crore) by 2021. Our products will be best when it comes to quality, specifications and features, and yet priced at 15 per cent lower than other brands. We are focusing to make security and surveillance a way of life for everybody, particularly the household segment," Bali said.
The company will sell video surveillance products at a starting price of Rs 2,500 a unit for a wireless cubecam and a set of four 1 megapixel CCTV cameras. Four-channel digital video recorders will start selling from Rs 6,500, the statement said.
"We will have service centres in almost all the cities. Videocon Wallcam will also provider pick and drop of products from customer's premises in cities where service centres are not available," Bali said.