News: Salora to bring Japan's TEAC brand to India

(RTR 26/05/2006) New Delhi - India's Salora International Ltd. will make and distribute home audio and video products of Japan's TEAC Corp., the Indian company said on Friday.

Salora, which already sells its own branded televisions and DVD players, has spent 10 million rupees upgrading its factory to produce 350,000 televisions a year, up from 150,000. Its DVD capacity stays at 200,000 units.

"There is demand for these kind of products as the economy and lifestyle changes (in India)," said Gopal Jiwarajka, Salora's Managing Director. "Once they come in at an affordable price, there will be an explosion."

Salora has tied up with TEAC to sell its entire India range, but make only the television and DVD units, he said. The TEAC brand would enter India's home entertainment market with plasma and liquid crystal display flat-screen televisions and stereo separates, to be sold initially in 10 branded outlets in and around Delhi.

The cheapest TEAC DVD player would go for about 3,000 rupees and the fanciest plasma screen television for around 100,000 rupees.

Salora would also sell retro-styled stereo systems that ape the look of 1940s Bakelite wireless radios, including a vinyl record player that can record vinyl long-players onto compact disc.

TEAC products will compete in India against brands owned by Sony Corp. and Panasonic, a unit of Matsushita Electric Industrial Co. Salora shares were up 2.1 per cent at 99.50 rupees in the Mumbai market.