The Indian television market has witnessed a remarkable transformation in recent years, driven by the evolving preferences of consumers and the increasing demand for affordable yet feature-packed TVs. This transformation has not only paved the way for home-grown TV brands but has also presented them with a unique opportunity to compete on the global stage.
Among these brands, Ridaex, a Bengaluru-based company founded by Naveen Srinivas, is spearheading this competition with its innovative approach and unwavering commitment to sustainability.
The Growing Smart TV Segment
The landscape of the television industry in India has seen a significant shift, especially in the smart TV segment. According to a report, the smart TV segment witnessed a remarkable 33% year-on-year growth in Q1 2022, reaching its highest-ever share at 89% of the overall TV market.
This growth can be attributed to the changing preferences of consumers, particularly millennials, who are now looking for alternate TV brands that offer high-quality specifications, sound, and viewing experiences within a budget.
While content streaming and OTT platforms continue to drive the industry forward, technology remains a pivotal factor for the consumer electronics sector as a whole. With constant innovation, the industry is poised for further expansion and competition.
Ridaex: A Trailblazer in the Television Industry
In this dynamic technological landscape, Ridaex has emerged as a formidable player since its inception in 2017. Founded by Naveen Srinivas, Ridaex aims to redefine television with its innovative products and a strong commitment to sustainability. The company’s tagline, “Revolutionizing the Smart TV to Future TV,” reflects its ambition to reshape the way we perceive and interact with televisions.
Naveen Srinivas, the visionary founder of Ridaex, has carved a unique path in the tech industry. Under his leadership, the company has introduced groundbreaking products, with the “Future TV” as its flagship offering. These televisions are designed with the principles of being Friendly Usable, Timely Upgradable, and Reverse Engineered (FUTURE), addressing many of the shortcomings found in current models. The result is a TV that offers longevity, consistent upgradability, and high-end technology.
Indian TV brands are gearing up to compete on a global scale, primarily focusing on two critical areas:
- Affordability:One of the key strengths of Indian TV brands is their affordability compared to foreign counterparts. India has long been a price and value-driven market, and some Indian manufacturers have introduced TVs with luxury specifications, exceptional viewing experiences, and top-notch sound capabilities at highly competitive prices.
- Accessibility: Government initiatives, particularly in tier-II and tier-III cities, are expected to drive the growth of the smart TV market in India. Additionally, India has become a hub for telecom manufacturing in Asia, attracting significant investments from international players. Initiatives like “Make in India” have further encouraged companies to invest in local manufacturing facilities.
Ridaex’s Global Ambitions
Ridaex is at the forefront of this global competition, poised to make a significant impact in the years ahead. The company’s Future TVs represent a paradigm shift in the industry, combining multipurpose functionality, unmatched durability, extraordinary longevity, and cutting-edge technology.
Ridaex’s commitment to sustainable electronics and advocating the right to repair not only drives innovation but also propels the brand into the global arena. The positive response from Indian consumers to Future TVs has been overwhelming, fostering a growing community of enthusiastic supporters.
Naveen Srinivas, founder of Ridaex, shared his perspective on the company’s mission and its role in the evolving television industry – “Our journey at Ridaex is driven by a commitment to redefine how people experience television. We believe in making high-quality, feature-rich TVs accessible to everyone, without compromising on sustainability. As we prepare to compete on a global scale, we remain steadfast in our mission to revolutionize the DNA of the television industry forever.”
