Simmtronics Semiconductors Ltd said it is now expanding into the Set-Top Box segment by starting to manufacture Set-Top Box in India.
Simmtronics investing US$ 5 million dollars (Rs. 30 crores) to manufacture STB’s at their plants in India. Simmtronics will be manufacturing the entire range of Set Top boxes both for the Cable and the Satellite platforms. The first product will be a STB with Wi-Fi Router which will make your current TV a Smart TV and helps you browse You-Tube, Google sites, Facebook etc. on your existing television at the comfort of your living room.
Lately, Minister of Information and Broadcasting Minister, Prakash Javadekar reiterated in his tweet that, “I welcome Indian Manufacturers to produce and provide Set-Top boxes for indigenization of Digitization”.
According to Indrajit Sabharwal, Managing Director, Simmtronics, “We are looking for at least a 10 percent market share in Set-Top Box business in INDIA which will add minimum of Rs. 500 crores to Simmtronics revenue in 2015. Simmtronics plans to grow this business to very large volumes and intends to get a 25% market share in the next 2 years. Simmtronics has the technical capability to deliver world class products for the global market. We have been India’s leading manufacturers and our strategy is to bring the Indigenisation of Digitisation in India. Simmtronics always believes in Manufacture in India and Sell all over the globe.” A lot of International PE Companies have approached Simmtronics for strategic investment into Simmtronics.
According to the deadline set up by the Information and Broadcasting Ministry, the digitisation drive should cover the entire country by the end of this year, till now STB’s which have been set in the major countries, are manufactured by foreign manufacturers, thus such a drive by an Indian-Manufacturer will provide a boost to the digitization drive.
Simmtronics is planning to launch this box at the lowest price in the market. As per sources, Simmtronics is already in discussion with the leading operators and has a forecasted order of over 1 million set top boxes to be delivered in the next quarter. It is also planning to export this product in their existing international markets like Dubai, Africa, etc.
Simmtronics is already manufacturing set up boxes for OEM suppliers in INDIA.