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Kodak to invest Rs 300 crore to make IoT-based smart TVs

Kodak TV India on Tuesday announced an investment of over Rs 300 crore over the next three years to strengthen its capabilities in IoT technologies.

Kodak to invest Rs 300 crore to make IoT-based smart TVs
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New Delhi

The investment in IoT technologies will focus on building intelligent TVs that are intuitive and meet the demands of the “new Indian customer,” a statement said.

Avneet Singh Marwah, Director-CEO, Super Plastronics, Kodak Brand Licensee in India, said: “In 2020, we focused on expanding our manufacturing capacity and market presence with an investment of Rs 500 cr. Now, we will be expanding our IoT investment so we can continue to give competition to phones brands which are entering into the TV category. With the new pipeline, we are confident we can capture over 10 pc of market share by end of 2021.”

The “new Indian customer” has evolved during the COVID-19 and the definition of TV has changed. It is estimated by end of 2023 there will be over 1 mn smart homes devices in the Indian market.

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