The company, which was a major player in the audio electronics market in the 70s, is re-entering India on its 70th anniversary after a span of 18 years
AIWA is relaunching in India with five products in the True Wireless Stereo (TWS) and audio segments, as per a report. The Japanese consumer electronics brand, which had registered its Indian subsidiary in February 2021, will invest a total of $10 million in its first phase of operations.
The five products to be launched will be the premium and mid-premium category. In the long-term, the brand aims to attain a top line of $1 billion in the next five years and has decided to kick off the plan with audiovisual devices.
In a conversation with The Economic Times, AIWA India’s Managing Director Ajay Mehta, “AIWA India has been given the mandate to establish an export base for Made in India products. We are excited to launch brand AIWA in India and embark on a billion-dollar revenue target with the brand in India.”
Talking about the production-linked incentive (PLI) schemes launched by the government, the company said that it is hoping to apply for the same in the audio electronics segment.
“AIWA is also looking to establish a manufacturing base in India by direct investment in greenfield projects as well as partnering with original equipment manufacturers (OEMs) in the second phase, which will begin in the September quarter”, added the publication.
The company, which was a major player in the audio electronics market in the 70s, is re-entering India on its 70th anniversary after a span of 18 years.
“The launch of our audio range shall be followed by our high fidelity speakers, televisions, air purifiers, and many more. We shall work closely with our RHQ to let the Indian consumer use our products and enjoy 70 years of Japanese legacy,” said Shouichi Kure c.i, MD & CEO of Aiwa Electronics International Co Ltd.