Japan-based consumer electronics company AKAI has announced its partnership with Reliance Retail to expand its portfolio and reach consumers across India, the company said in a media statement.
This association will help the consumer electronics company's products to be placed in over 540 stores across India and penetrate the growing home entertainment products market.
Anurag Sharma, Director, AKAI India said, “This will also help us to provide the consumer, access to the latest and most innovative technology by carrying forward the Japanese legacy on constant improvement.”
The consumer electronics market size is expected to grow to $124.94 billion by 2030 at a CAGR of 6.5 percent from 2022-2030. The size of the market in 2021 stood at $71.2 billion, with TVs making up a substantial share of the same.
AKAI India expects to grow across the country as it sees a phase of rapid urbanization, rising disposable income, and the introduction of novel products into the Indian market. It looks to follow an omnichannel market approach followed by Reliance Retail, with established competencies in scaling local manufacturing and sourcing efficacy.
Currently, the Japan-originated brand is present in various markets in India. It sells television, washing machines, air-conditioners, air-purifiers, home appliances, and other consumer durables. Also, it plans to launch a range of Web OS, 4K smart TV, home audio, and washing machine in near future.