The Hindu : Business : Salora signs pact with TEAC

Online edition of India's National Newspaper
Saturday, May 27, 2006

Business

Business

Salora signs pact with TEAC

Companies plan aggressive pricing of products

— Shanker Chakravarty

FOR ENTERTAINMENT: Hiroshi Toku-Shige (right), Global Head, (Consumer Electronics), TEAC, shakes hands with Gopal Jiwarajka, MD, Salora International at the launch of a wide range of lifestyle audio and video products in New Delhi on Friday.

NEW DELHI: Consumer durable goods manufacturer Salora International on Friday signed a brand-licence agreement with Japan's home entertainment system major TEAC to manufacture, market and distribute its products across India.

The agreement would see TEAC providing Salora with technical knowhow of its products and assistance in manufacturing them. Salora would be responsible for marketing and distributing the audio-visual products across India.

"TEAC's initial offerings to the Indian consumers would be televisions (plasmas and other sets), audio-systems and a gramophone-record player that comes with an option to transfer music from LPs to CDs,'' Salora Managing Director Gopal Jiwarajika told reporters here. The companies have decided to go in for an aggressive pricing of the range to make swift inroads in the market. Prices of TEAC audio-systems would range between Rs. 6,000 and Rs. 30,000, televisions would cost anywhere from Rs. 5,000 to Rs. 17,000 and the plasma series would start from Rs. 1.40 lakh. — PTI

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