COVID-19 has changed our lives in many ways. Social distancing is now a thing and masks have become a part of our attire. While it surely has changed the lives of regular people, the coronavirus pandemic has hugely impacted business. At the time of these crises, people are spending their money wisely but they are also looking for a source of entertainment at home. The best thing for entertainment at home is on television. So, we reached out to Shinco to know how the pandemic has affected the TV industry. Has it grown or did it take a hit? Let's find out.
Shinco is an Indian television brand that complies with the government's 'Make in India' movement. With that, the company aims to bring SmartTVs to more homes by making them extremely affordable. So, indiatvnews.com asked a few questions to the CEO of Shinco, Mr. Arjun Bajaj.
Here are the answers to our questions:
1. How has COVID-19 impacted the TV industry?
COVID 19 has impacted the entire world and has made a lot of changes in the way factories used to function. So, yes the impact was there as there were no sales for almost 2 months. Yes, the TV industry took a hit in terms of losses but now the changes have been made, and new ways of functioning post lockdown has been implemented.
2. Have you reopened all your factories? If yes, with how much workforce?
Yes, we have reopened our factory and initially, we had 33% workforce as per the government but now we are working with almost 90% of workforce efficiency.
3. How many TVs have you sold so far?
We can’t mention the number but we can say that the sales of the TV has been good and were expected to pick up post lockdown because TV is the only source of entertainment at our homes and people want to watch their favourite content on big screens.
4. Were you able to sell enough TVs in Q1 and Q2 2020?
Q1 was anyways very slow but we will be able to cover up the sales in Q2, 2020.
5. Which are your best-selling models?
Our best selling models are 32 inch Smart, 32 inch LED TV and 55inch 4K. Now we have added 43 inches 4K and we have already seen a good response.
6. Are people leaning more towards smart TVs now?
Yes, people are leaning towards Smart TV’s now. We saw a 3x rise in the sale of Smart TVs in India because during the Lockdown Period people who do not have a smart TV were not able to watch their favourite content. Also, they would understand that watching content on their smartphone is not easy and they need a bigger screen. So, people have realised how important Smart TVs have become.
7. How are you looking to compete against the likes of Xiaomi and Realme in the budget smartTV market?
With affordable prices, I think we can compete with these brands as we have recently launched our new 43 inches 4K TV, which is more affordable than Xiaomi and Realme's offering. Also, our Smart TVs are packed with a lot of features. Shinco believes in giving good quality products at affordable prices by manufacturing Smart TVs here in India at our Greater Noida facility.
8. What are some unique features that your Uniwall UI brings to the table?
We offer 15 lakhs plus content with certified apps like Hotstar, Zee5, Sony Liv, Voot, Jio Cinema, Eros Now, Hungama Play, Alt Balaji and many more. The Uniwall UI also brings support for Netflix, Amazon Prime Video and Youtube. The Shinco Smart TV range also comes with Content Discovery Engine, which helps the user to search for anything around the app by just entering the keyword.