Consumer electronics major Samsung is planning to install around 20 LED cinema screens named 'Onyx' in the country by the end of next year, a company executive said Wednesday.
The firm had launched its first such screen in August at PVR in New Delhi, and unveiled its second screen here Wednesday, in partnership with Inox.
It is looking to open two more such screens in the country by the end of 2018, according to Samsung India vice-president consumer electronics enterprise business Puneet Sethi.
"We have 26 'Onyx' screens globally. The investment per screen for the exhibitor is around USD 500,000-700,000 for the entire solution," Sethi told PTI.
He said the company will have around 20 such screens in the country by the end of 2019.
Samsung had unveiled the new technology last year, which marked a shift from theatre projection systems to LED screens in the country.
Sethi said that the company has huge expectations from India, while admitting that it's under penetrated in terms of number of screens.
The firm so far has tied up with two leading multiplex chains PVR and Inox - but he said it is looking to rope in other other multiplex players as well.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)