Facing the biggest, Delhi-based UG4 revolutionized electronics market in India.
AKHIL: What is the market size of the sector and how is UG4 different from the competition? UG4: The Indian appliance and consumer electronics (ACE) market reached $31.48 billion in 2017, and is estimated to grow further. We have consistently been offering high quality products at an affordable cost. For instance, our TVs are the most affordable and high-quality product in the market right now, with advanced features, relevant innovations and good aesthetics. We have been working towards providing great experiences to people. We try to bring them joy through our products. Making technology and machine accessible and affordable to all is our goal.
Akhil: What are your challenges in sustaining and growing the business?
UG4: The consumer electronics industry is one of the fastest growing, but also one of the most volatile, aggressive and competitive. We have been competing with the best and biggest brands to stand out and create a name of our own. Brands with huge investments have penetrated the Indian market, and to an extent, have succeeded in acquiring huge market shares. However, there are also brands that have failed and ended up in the dust due to unsustainable practices. With the right approach and strategy, we try to be one of the top players in the consumer electronics industry. To overcome any challenge and to continue sustainably, we invest heavily in relationships with people associated with us, such as our customers, stakeholders and partners. We also believe that ethical business practices will always be sustainable, and that focusing on innovation is critical.
AKHIL: What is the way ahead for UG4?
UG4: Currently, we are a Rs 80 crore brand, and aim to reach Rs 1,000 crore in the next two years. We also want to become a Rs 2,000 crore brand in the next five years. The aim is to create and maintain a sustainable brand in the long run. We will also continue to bring out advanced products at affordable prices for our consumers.