Compaq plans to leverage its years of goodwill as an established TV maker
Bengaluru: A US-based electronics brand, Compaq is expanding its horizons by eyeing to build a diversified consumer base with plans to enter the smart watch segment in 2023.
“Compaq has always been dedicated towards making advanced and quality products easily accessible and affordably priced. Viewing the massive market acceptance and popularity of our smart televisions, we are now planning to take a step ahead and introduce people with uniquely designed smart watches – a perfect balance between panache and performance,” said Amitabh Tiwari, CEO of Ossify Industries Pvt Ltd.
Compaq launched its smart televisions in India in the year 2020.
Indian electronics manufacturer Ossify Industries, based in Delhi NCR, has acquired the rights to use the Compaq brand name for its smart TVs.
The Compaq TV has maintained a reputation of being reliable, technologically advanced, and available for all at a reasonable price range.
Earlier this year the brand signed a distribution agreement with Ingram Micro, an American distributor of information technology products and services, to double down on its offline reach. Compaq India with Ingram micro has targeted to achieve 1 billion dollar revenue by 2025.
The smart watches segment in India is heating up with many players trying to up their game. Recently Fire-Boltt appointed cricketer Mahendra Singh Dhoni as its new brand ambassador in the hopes of benefiting from the cricketer’s brand appeal and gaining an edge in the highly competitive segment. Read more about it here. India’s smart watch market grew 167% YoY in 2022 to become the biggest smartwatch market in the world.
According to new research from Counterpoint Research, the smart watch market in the country grew more than four times in Q2 2022. The growth was driven by increasing consumer interest in smart watches as a fashion accessories and as fitness trackers and new launches.
