Change. That’s the buzz wordin the home entertainment sector. Braving choppy times,the home entertainment segment is seeing a downturn in some areas while products aimed at the affluent are making hay.
The home video market took a bodyblow due to the on slaught of emerging platforms like television, DTH and the internet. In fact, the Indian home video segment was the only segment that recorded negative growth last year, according to an analysis of the Indian media and entertainment industry by KPMG.
So if you look at numbers, they have indeed shrunk. But the good news is that more and more foreign companies are venturing to India as a potential destination for home entertainment. So while car audio giant Pioneer entered the home entertainment segment in India earlier this month, another company, Loewe,Europe’s leading manufacturer of luxury home entertainment products, too has forayed into the Indian market. So where is the segment headed?
Pioneer has launched audio-video (AV) receivers and home theatre packages in addition to its home theatre in-box and Blu-ray and DVD players. Loewe, on the other hand, has brought customised home entertainment through its premium televisions, speakers and players. Yes,the trend is definitely high-end.
To find a stronger foothold in India, thecompany has partnered with Indian companyNavshiv Retail, which not only holdsexclusive distributors rights for all Loeweproducts in India, it also has the rights for other home entertainment biggies likeBang & Olufsen, People of Lavaand and Audio Pro – Sound of Scandinavia, for the next ten years in India.