Hisense group, a China-based multinational electronics and appliance maker, plans to double its revenue in India to $200 million by 2027.

The company, which currently sells televisions under Hisense and Toshiba brand, is also expanding its presence in air conditioners and washing machines with plans to foray into household appliances in the future.

"In 2023, our revenue in India was $100 million, majority of this being from televisions and this year it is expected to be flat. Our target is to reach $200 million by 2027. There is a high demand for air conditioners and we are looking at expanding production capacity and developing offline retail channels to scale up our presence," said Steven Li, managing director, Hisense India Pvt Ltd.

Li was in Calcutta to launch the company's 120 inch laser television.

With global revenues of $3 billion, Hisense group is in discussion with Noida based Epack Durable, for a strategic stake (between 15 and 26 per cent). Epack Durable, which is listed on the bourses, is an original design manufacturer (ODM) of room air-conditioners and is expanding its manufacturing facilities at Sri City in Andhra Pradesh.

"We would like to inform you that business discussions are currently in the preliminary stage," said Epack Durable in a stock exchange filing on Wednesday.

Hisense officials on Thursday said that it hopes that mass production of air-conditioners can be made from the plant at Sri City by October 2025.

Hisense India CEO Pankaj Rana said that the company's presence has been primarily in the e-commerce channels and is now looking to expand its presence in offline retail. "We are starting our expansion from the eastern region and we will next expand in South India followed by North and West India. We are also planning to launch air conditioners and washing machines in India next year," said Rana.

Changing tides

India's large consumer base and the growing demand for electronics is a top draw for Chinese brands.

Last week the Indian arm of Chinese smartphone brand Vivo announced a joint venture with Dixon for manufacturing of electronic devices, including smartphones.

Chinese fast fashion brand Shein is also expected to make a comeback through a partnership with Reliance Retail after its app was initially blocked by Meity in 2020.