Yamaha Music India Private Limited
Yamaha Music India First Corporation of Japan opened a factory for musical instruments, with the goal of making it an export hub.
Takashi Haga (MD, Yamaha Music India Private Limited) stated that “We have begun making musical instruments for India,” Ltd. (YMAIL)
The factory is located approximately 70km from here and is being constructed in phases.
It was an investment of Rs380 crore for the first phase. The company is currently manufacturing portable keyboards. The next step would be to produce acoustic guitars as well as pro-audio speakers.
It can produce approximately 1.50 lakh keyboards and 2 lakh acoustic guitarists each year.
The factory will initially cater to the needs of the domestic market. We plan to export half of our production in the future.
“We have been selling musical products to India since 2008. They were imported from China until now. We have a revenue of Rs200 crore. We are coming to India at a right time,” stated Rehan Siddiqui (business head, MI sales & marketing division, YMIPL).
Market share growth
While stating that sales were growing at 20%-22% annually, Mr. Siddiqui stated: “Right now our market share is in single-digits and we will soon double it.
- Mr. Haga stated that construction on the second phase will start after two to three year.
- Yamaha Music India launches the new RXV AV receivers at Rs 47.490
- Yamaha Music India expects a 20 percent increase in home audio sales over the next two-years, based on people’s desire for better speakers and home entertainment systems.
- Yamaha Music India expects a 20 percent increase in home audio sales over the next two-years, according to a senior company official. This is due to people’s desire for better speakers and home entertainment systems.
- The company is experiencing a surge of demand from not only metros, but also tier II/III cities.
- M V Prasad, Yamaha Music India Business Head-Consumer Audio, stated that the division is expected to grow by 18-20% in one or two years.
- After the pandemic, home audio has seen a significant growth. People started to choose home theatres and home audio systems to enhance their content viewing experience.
- The TV’s size and content quality are improving and it is now more accessible to the average person. He said that people now have access to high-quality content at home, but they don’t have the equipment necessary for a cinema experience.
- Prasad stated that even consumers in Tier II and III cities are buying quality audio-video equipment because they don’t have other entertainment options like cinema screens.