Optoma is currently leading the Indian projector market with its cutting-edge products. The strong base of channel partners is the core strength for Optoma which helps them grow further. The brand has earned huge reputation in the market with its consumer oriented GTM strategy. In a recent chat with DT, Vijay Sharma, Country Head-India, Optoma Corporation talked about the success of Optoma, market landscape, future growth plans and much more.
DT: Please share Overall Performance in Year 2022
Vijay: This year have been strong for us projector sales in India. Currently Optoma is world’s no. 1 4K UHD projector brand we have retained the No.1 position in 4K UHD, laser projector & Laser TV projector categories in India as well during the Q2 of 2022. According to the recent world-wide projector market information expert Pacific Media Associates (PMA) report, Optoma enjoyed 49% in 4K UHD segment, 43% market share in Laser projector segment & 60% market share in Laser TV Projector segments due to its impressive sales in the home projector segments.
The overall projector market has witnessed good growth in the last one year, according to the PMA report. The brand saw its share in 4K UHD segment grow by 2.5 times, while the laser projector segment has registered 9 times growth in comparison to 3 times growth of the market compared to 2021. The report has also highlighted that Optoma is in top 3 brand in overall projector market
DT: Please share target revenue or growth percentage to achieve by the end of 2022-23.
Vijay: We would like to end 2022 on the strong note that we have been maintaining throughout the year. The targeted growth is to retain the no 1 position in the important categories of Laser and Home. Now we are launching a complete line up of mainstream laser projectors we hope to increase our share in Education and corporate segments as well. We are looking to increase our revenue by more than 2.5 times for calendar year getting over in 2022.
DT: What are some key features that make your brand better than others?
Vijay: Optoma is one of the leading projector brands in Pro-AV as well as home entertainment categories. We are simply guided by the vision of ours ‘To deliver engaging visual experiences for a connected world’. With this vision Optoma is dedicated in delivering reliable, flexible, innovative solutions for multiple purposes. We offer a wide range of products, from LED pico projectors to high-end laser pro-AV projectors empowered by smart integrated platform and remote-control systems. The projectors are capable of producing vibrating images in all conditions. Long lasting lamp life is another feature of Optoma which is making the projectors very unique in nature. In addition to this, we also equip our projectors with diversified resolution options to cater various corporate, home and education requests.
DT: How do you take care of channel margins & profitability?
Vijay: We ensure margins at each and every level to the channel partners who are being associated with Optoma and promoting Optoma. We sustain our partners along with us by offering good margins to make profits. We structured our partner programs to ensure maximum profitability of the partners without any effect on price point at the same time.
DT: Please share a few sales tips for the channel community.
Vijay: I would suggest them to create a convincing offer for the customers. Among this cut-throat competition channel partners need to create a personal relationship with the customers to understand their needs and offer products accordingly. They should provide a convenient shopping experience to the customers. Partners need to describe the brand, connect with them and offer apt solutions. I would suggest them to go an extra mile, utilize resources to connect with the customers for better sales.