CXOToday has engaged in an exclusive interview with Mr. Amitabh Tiwari, CEO, Ossify (Compaq)
Q1. How is Compaq looking at India, especially with smart products?
With a 60 percent internet penetration rate and around 840 million internet users, and almost 2 billion IoT devices, India is a thriving market for smart products, and the growth prospects for the makers of smart gadgets are phenomenal. People are rapidly switching to smart devices due to easy internet accessibility, the availability of quality products at affordable prices and their increasing disposable income. India is a very big market with a vast base of domestic buyers. The country has successfully dealt with power shortages in rural areas. Today, even villagers with decent monthly incomes want to enjoy amenities, including smartphones and smart TVs.
Q2. What have been your latest innovations in smart products?
Compaq has already established itself as one of India’s most trusted and top-selling smart TV brands with its advanced yet affordable products. We have just introduced the Google TV with QLED technology. Now, our latest innovation in smart products is the Compaq smartwatch, which will be launched shortly. Packed with a plethora of smart and sporty features, these smartwatches will prove a game-changer in the Indian market, catering to the demands of a large segment of consumers. We are also preparing to introduce Tabs in 2023.
Q3. What is the principal distinction/ differential point between your company and other players in the market?
Being a prominent B2C player in India’s flourishing consumer durable market, our focus remains on customers. We are always quick and receptive to smart technologies which can enhance user experience and customer satisfaction. That’s why CRM and CDP are always our priorities. In addition, anything that can add value to customer experience becomes an integral part of our organization’s culture.
Q4. How are you going about with smart TVs, given that the competition is tough?
Compaq has established a strong market reputation as one of the most reliable and technologically advanced TV brands by making smart televisions available for all at an attractive price range. Compaq TV becoming the people’s favourite choice during the festive season is a depiction of people keeping their trust in our commitment towards delivering advanced, reliable and affordable smart TVs for all. Compaq TV is not just limited to an immersive viewing experience but also an experience that is efficient and wholesome. Each Compaq TV is fortified with cutting-edge technology that protects the vision and is integrated with personalized sound that is tailored to the hearing ability of each individual. Compaq TV is designed to raise the quality of life by simplifying and enriching the television viewing experience.
Q5. How crucial is the technology in your industry and is there any technology exclusively adopted by your company? Please explain.
Technology is the lifeline of our industry. At the same time, most technologies such as Operating Systems (Google/Android/WebOS) or open cell (Oled/Qled/IPS or VA panel) prevalent in the smart TV industry are not patented. So, brands willingly paying for them are incorporating these technologies in their products and being the epitome of quality; Compaq is fast in adopting cutting-edge technologies to delight its customers.
Q6. What are your predictions for 2023 for smart products?
The percentage of IoT devices will increase sharply, and the metaverse will be the key focus for smart product companies. Besides, to enhance customers’ buying experience, the industry will aggressively embrace other unconventional technologies as well, such as Automation & Robotics, AR Navigation, and buying online pick-up in-store (BOPIS).
Q7. What are the immediate and long-term plans of the company?
We are rapidly increasing our product line, and after achieving huge success in the smart TV segment, we are working aggressively to introduce wearables and Tablets. Recently we forayed into the smartwatch category with QWatch, and by the end of this calendar year, we intend to have our own production for refrigerators and air conditioners. Regarding our long-term business goals, we intend to make Ossify Industries Pvt Ltd a ₹2000 crore company by 2025.
