Optoma is a world leader and top brand in DLP Projectors and the 4K UHD segment in India as per the PMA report. The company is involved in designing and manufacturing of projection and audio products for business, education, professional audio/video, and home entertainment.
Vijay Sharma, Country Head, Optoma Corporation shared his views on the organization, changing technologies, and the future ahead with team IT-Voice:
Prateek: What is the significance of screens in the gaming, education and entertainment sector? How do projectors enhance the virtual experience?
Vijay Sharma: The screens are very important because it helps in giving immersive experience when it comes to virtual learning, gaming or watching a movie or a sports.
Gaming is all about visual effects and a captivating experience that makes the player feel as if he’s right inside the game. An advanced tech-based screen enhances and engages the gaming experience by providing outstanding graphics and effective visuals. Similarly, a good screen combined with the latest technology and good sound system elevate the overall sport watching activity. A good screen can be characterized on the basis of great graphics, and no one can deny the role of graphics in gaming, we can say that they’re soul of a good gaming setup. On the other hand, I would like to ask you, would you like to watch a movie with low quality visuals? No, right? A good screen while gaming and entertainment through provision of great graphics and great screen quality along with a sound system makes the experience more enhanced and engaging.
In education sector, good screens play and important role in teaching and learning process. These screens add value to academic practices and teaching programs and improve the learning experience of the students and effectiveness of the teachers.
Optoma projectors are designed to do just that and provide you with an excellent gaming, education and entertainment quality. For entertainment Optoma projectors like P2 features 4K UHD resolution and premium Dolby digital 2.0 audio, offers the ultimate cinematic experience like no other. The ultra-short throw technology allows you to enjoy 120” screen from just inches away. The improved brilliant colour technology, as well as the elevated 120% of Rec.709 gamut coverage, deliver rich color performance and makes pictures even more realistic and if you’re someone who is interested in both gaming and binge watching then, UHD55 is perfect to quenching your desire for the ultimate home entertainment.
People who invest a good amount of money on such equipment often understand the value that it adds to the games and entertainment. Besides a great screen, top-notch technology, the comfort of sitting in one’s sofa, and a better sound system are among the many features that can go on to enhance a movie watcing experience.
Prateek: How Optoma plans to compete with organizations from Taiwan, Japan and South Korea?
Vijay Sharma: There is a continuous competition among projector brands. As India is most preferred market for foreign countries as the geopolitical issues are minimum. With the growing demand for projectors competitors are taking expansion strategy, coming up with projectors for consumers. Optoma is no. 1 brand in 4K projectors worldwide. With our innovative projectors we always thrive to offer solution to customer’s need. With this strategy Optoma has already challenged the long dominance of firms.
Prateek: How has Optoma changed its marketing strategies in the post pandemic times?
Vijay Sharma: As businesses are getting back to normal with the opening of various sectors, we aim to capture a bigger chunk in the Indian projector and flat panel market in 2022. We are focusing aggressively on development of innovative products as per demand in the domestic market. We are looking at understating the solution that each consumer segment wants for both in b2b and b2c segments.
Despite COVID outbreak Optoma launched a number of projection products in 2020-21 and continues to introduce new products this year too. The company kick started 2022 with the launch of UHZ50. Focusing cutting-edge technology and product design, we recently launched UHD50X world’s first 240Hz Refresh rate projector, CinemaX P1 & P2 4KUHD Laser Home Cinema Projectors to provide high-end home cinema experience.
Committed to fully serve the business, education, home and entertainment, Optoma will keep on coming up with new and innovative products for our consumers.
Prateek: What will be your strategy to drive more products for retail sales?
Vijay Sharma: The business strategies adopted by Optoma are another factor supporting our growth. The increasing number of partnerships and collaborations is likely to drive the growth of the Optoma projector market this year too. We are opting partnering with end-users and distributors to improve their distribution channels and upgrade their product portfolios by integrating and continuously updating the software tools and advanced features into our projectors. This is expected to drive the growth of the Optoma projector market.
Prateek: How is the projector market reacting with the economic recovery?
Vijay Sharma: During the pandemic, as our social lives went online, our entertainment consumption patterns also changed dramatically, with unprecedented increases in TV viewing, online gaming, and over-the-top (OTT) content consumption. The shift from small screen digital devices and TV viewing to large screens took a leap in 2020. Although, the industry witnessed a 60% drop in the demand due to shut down of education, corporate sector and the Government sectors, there was increased demand coming from the home segment. Whether it is movies, events, sports, or shows, consumers are now bringing entertainment to their homes in larger-than-life proportions. The home segment registered more than 100% percent YoY growth in CY2021 vs CY2020. Optoma has grown by more than 150% in home segment during the same period. Technological improvements in projectors, such as inexpensive 4K UHD goods, long-life laser light sources, ultra-short throw projectors which can replace 120 inches and larger screens from inches, and high brightness products, are also driving the growth of the home segment.
The Indian home entertainment and projector market witnessed a double-digit growth in 2021. Consumer demand, choices, and behaviour have all changed because of the pandemic. People began watching movies and sports at home as theatres as multiplexes remained closed for longer periods of time in 2021 too. People have started making investment in high end equipment such as high-end projectors, televisions, and sound systems to establish a permanent home theatre setup for full enjoyment. This resulted in growth of the home segment for projectors.
The overall projector industry witnessed a de-growth of 14% in 2021 as compared to last year according to PMA, a market research firm. Whereas Optoma’s overall projector market share grew by 20% in 2021. The 4K UHD segment grew by 120% and Optoma witnessed a growth rate of 100% during the same period.
If we talk about the price point, in my opinion, mid-level projectors with a price range of Rs 1-2.5 lakh will be mostly in demand. In the high end segment the maximum demand is in Laser TV Projectors and 4K UHD high end segment with the price range of Rs 5-7 lakh.