Hope to continue growing at 25% Y-o-Y till 2031: BenQ India MD Rajeev Singh

BenQ India expects strong long-term growth from premium displays and projectors, while increasing its focus on products designed specifically for Indian consumers

BenQ India expects to continue a strong growth of up to 25 per cent year-on-year for the next five years on the back of continued growth in flat-panel, computer displays and commercial and personal projectors, the company’s India and South Asia Managing Director Rajeev Singh said.

 

“We are very focused on our core competency: display, specifically in the mid- and high-range segments. We do not want to be at the entry level of the display market because there is not much value addition there,” Singh told Business Standard.

 

One of the primary reasons for the company to stick to the mid- and high-end display market is that consumer behaviour has gradually shifted from a first-time buyer market to a repeat-buyer market, where the consumer is looking not just at the price but also the value they can get out of the product, he said.

 

Apart from the growth in the display market, Singh also believes that the next phase of BenQ India growth will be supported by growth in the projectors market, which has just started to take off in India as well as other countries across the globe.

 

“Projectors, I think, are one of the most underrated product categories. They will evolve very differently in the future, especially in the home segment, owing to developments in the last few years. Unlike a television, which is a fixed-position living room product, projectors can be carried anywhere. It appeals to the younger generation,” Singh said, adding that the overall projector market in India could double every year for the next few years.

 

Going ahead, apart from making products in India, BenQ India, which will complete 25 years of operations in India later this year, sees the next phase of growth coming from products that are specifically designed for the domestic market, he said.

 

The company has two contract manufacturers for its products, based out of Gujarat and Tirupati in Andhra Pradesh, and might look to invest in a manufacturing facility of its own sometime in the future if the need arises, Singh said.

 

“At the same time, our strategy is evolving from Make in India to designed for India. A strong example is our coding monitors, where the entire research was conducted in India over two years, especially in Hyderabad and Bengaluru, and engaged programmers to understand their needs. We want to conduct research in the Indian market to develop products not part of the international portfolio, because if a product succeeds in India, it can do well globally,” he said.