Japan’s Aiwa consumer electronics brand seeks revival in Indian market
NEW DELHI, NNA - Japanese consumer electronics brand Aiwa is trying to revive its fame in India, by starting local TV production.
Aiwa products were popular in India until the early 1990s, but have been eclipsed by global brands like Samsung and LG.
Aiwa Consumer Products LLP, established in February, on Thursday unveiled products such as its LED (light-emitting diode) televisions, home audio systems, wireless headphones and personal audio products.
Aiwa director Inderjeet Singh told reporters that the company plans to invest two billion rupees ($28.8 million) in the next two years.
“We have already set up our assembly unit in New Delhi with an initial capacity to produce 12,000 to 13,000 TVs a month,” Singh told NNA. “The investment will be directed towards reviving the brand in the country.”
Singh said that the company is aiming to sell about 200,000 Aiwa products per year in the country.
Founded in 1951, Aiwa Co., which had reputation for making high-quality audio-visual consumer electronics, became a wholly-owned subsidiary of Sony Corp., in 2002. In 2017, Sony sold the brand name's rights to Towada Audio Corp., which makes electronics products for other companies.
“We decided to launch this brand in India because this is one of the most dynamic markets in the world with huge potential,” Jeffrey Alan Goldberg, managing director of NU-World Holdings Ltd., told reporters.
NU-World manufactures and distributes electric appliances and branded consumer durables globally. It is licensed to make Aiwa products for Australia, India, Africa and the Middle East.
“Moreover, the sense of nostalgia when it comes to Aiwa is strong here, and I am sure India will embrace the new brand identity,” Goldberg said.