New Delhi, Jan 29 () German audio solutions maker Sennheiser is confident of continuing its double-digit growth in India, which is among its fastest growing markets, according to a top company official.
The company, which is among the top three brands in the premium audio category category, is keen on growing its market share further by introducing a new range of wireless headphones and expanding into segments like soundbars targeted at high income households.
"The growth (in India) is driven by several factors, including the rise of average consumer income and adoption of new technology and rising penetration of headphones (which is still low compared to some other countries)," Sennheiser Electronics GmbH & Co KG Co-CEO Daniel Sennheiser told .
"I believe that a combination of these factors means that our expectations are very large here," he added.
India is among Sennheiser's top 10 markets globally and is part of its APAC business. It is the second largest market in the Asia Pacific (APAC) region after China.
"India is a fast, double-digit growing market for us. We are focusing here on wireless headphones and in the premium space, we have doubled last year," Sennheiser said, adding that shift to wireless from wired headphones is driving growth in India as well as other markets.
The company is confident about its positioning despite competition from rivals offering similar products at competitive pricing.
"We understand consumers' needs better than anyone else," he said, adding, "We would not compete on price but on value."
The company plans to introduce a new line of headphones in India in the second half of the year, targeted at potential customers who want to upgrade their experience.
"This would be very exciting for the Indian customers who want to come to Sennheiser portfolio," Sennheiser India Director, Consumer Segment Kapil Gulati said.
Presently, about 50 per cent of Sennheiser's India revenue comes from consumer headphones and other audio devices, while the remaining is contributed by professional products like microphones and conference systems.
The company on Wednesday introduced AMBEO soundbar, priced at Rs 1.99 lakh, which can deliver 3D sound with immersive sound and deep bass in a single device.
"With this additional soundbar, we are confident that our market share would be higher," Gulati said.
The company, which started its journey in India in 2007, gets 50 per cent sales from online platforms.
It has offline presence through multi-brand brand outlets. Its audio products are available at over 3,000 outlets in India in around 25 cities. KRH SR ABM
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