All eyes on defense electronics and IoT of Hero Electronix
Hero Group subpart, Hero Electronix is enthusiastic to step into the new areas such as electronics, automotive, and Internet of Things (IoT), as per a statement made by a senior company official.
The company has prioritized IoT-enabled home solutions area as part of its strategy to expand the overall business activities. The Indian home solution market has loads of potential, as there are a large number of technologies entering the market, said Nikhil Rajpal, CEO of Hero Electronix.
The opportunities lie in every product type, from home electronics to surveillance devices, lighting and tracking systems, he added.
While talking about the expected time to initiate the venture, Rajpal said, “We are ready with our prototypes and within coming six to nine months, the products will be ready for the roll out in the segment.
The company didn’t disclose the product type but said that the concept behind the research and development of the product has been designed in such a way that it will match the Indian requirements.
He also stated about the products that are presently obtainable in the market are over-priced products, which have been designed for well-established markets. But what makes us different is the development of products that are intended to meet the localized needs and with an understanding of how a product is utilized and purchased in the Indian household.
The company states that the pricing is a critical parameter and we are more focused on the determination-based development to make the product affordable to the normal customer.
Focusing on defense electronics, Rajpal stated that company targets to get into country’s defense sector and become a part of an effort to promote local manufacturing.
“A huge part of defense expenditure attributes to electronics. So we foresee immense opportunities in the space, especially taking into account the government-led “Make in Initiative,” Rajpal further added.
Talking about the plans associated with automotive sector he stated that they are presently in the early phase of development. Looking at the drastically growing automobile sector, we see to it as a great prospect to tap. We would look forward to develop modern age infotainment system, safety aspects, remote access and various such technologies in the coming period.
Hero Group’s venture, Hero Electronix, holds a valuation of $5 Billion and is a sole venture of its parent in electronics and technology industry with an existence of its product range from set top box to semiconductor test engineering services.