OKIE Sustains Impressive Surge in Indian Consumer Electronics Market, Aims for 100 Crore Sales and 100,000 Unit Sales Target
OKIE, India’s leading homegrown home entertainment brand, has reaffirmed its position as a prominent player in the ever-evolving consumer electronics landscape. With a strong offline presence of 2500 retailers across 45 locations in 8 states, Its flagship Smart LED TVs sold almost 30000 units across seven states by the end of the fiscal year 2022-2023, with over 25,000 units sold during the pandemic itself. And in the last three years, the brand has expanded extensively and now aims for INR 100 crore in sales with a target of selling 100,000 units in CY 2023.
In India, most consumers still prioritise affordability in their electronics purchases. Despite this high price sensitivity, the consumer electronics market is on track to reach INR 12,898.89 Bn by 2027. From the very beginning, OKIE has embraced and understood this reality and leveraged it to its advantage by focusing on competitively priced, top-quality products. This commitment is evident in its flagship Smart LED TVs, available in sizes from 24″ to 86″. These cutting-edge TVs feature Google TV, WebOS Powered by LG, and Cloud OS, catering to a wide range of preferences. There is also OKIE’s upcoming Sports Series Smart TVs, with prices starting at just Rs. 9,990/- for the 32-inch model, Rs. 17,999/- for the 40-inch model, and Rs. 19,999/- for the 43-inch model, offering advanced features such as full HD display, 4K Ultra HD resolution, in-built voice control, and a powerful 10+10 watt sound output.
With a diverse range of such Smart TVs and other home entertainment electronic products, OKIE has firmly established itself in the Western and Southern regions of India, majorly in pivotal states such as Gujarat, Tamil Nadu, Karnataka, Andhra Pradesh, Telangana, Kerala and Planning to enter in North India States Like Punjab, Haryana, J&K.
“OKIE’s growth thrives on unwavering dedication to innovation and quality, essential to our mission of offering exceptional value. Despite challenges, we deliver innovative, high-quality products at fair prices. Our versatile marketing approach merges traditional and digital channels with state-of-the-art tech, enabling us to expand beyond urban areas into tier 2 and 3 markets aggressively. We believe in making the latest tech accessible across diverse geographies, even in smaller cities, swiftly and affordably. Our distinct products and services set us apart,” said Jitin Masand, Founder and Managing Director of OKIE.
“We have an upcoming line of investment in expansion, a significant portion of which will be used to expand our capacity from the current 5000 TVs per month to 15,000 TVs. We will also extend our reach by establishing a presence in 10,000 stores across 100 locations by year-end,” added Masand.