Company Vision and Mission:
Suman- What inspired the founding of Optoma, and how has the company’s focus evolved since 2000? Can you elaborate on Optoma’s vision and mission, and how they have guided the company’s growth over the past two decades?
Mr. Vijay Sharma- Optoma, a Taiwanese company from the house of Coretronics, has been a significant player in the Pro audio-visual product, projector and flat panel sector for the past 21 years. Last year, we celebrated our 20th anniversary worldwide, marking two decades of innovation and excellence. With major offices strategically located in Europe, the USA, and China, we have established a robust global presence when it comes to audio-visual products. Our India office operates as a key part of the Asia-Pacific region, further expanding our reach and influence in the region. Today, Optoma’s product portfolio is not limited to projectors alone; we also specialize in Interactive Flat Panels & large display devices, catering to diverse needs and applications coming from sectors like education, corporate, government including home theatre. Renowned for our commitment to quality and cutting-edge technology, Optoma has been retaining No. 1 4K DLP projector brand in the world for the last few years. This recognition underscores our dedication to delivering top-tier visual solutions and maintaining our leadership position in the industry.
Optoma maintained its excellent business performance throughout 2023 for Projectors in Home and PRO AV segment and Interactive Flat panels in education. Going forward in 2024 our objective is to improve the market share in key categories of home entertainment, professional audio-visual (pro-AV), and the education sector.
Innovations and Technological Advancements
Suman- How does Optoma stay ahead of technological advancements and trends in the visual solutions market?
Mr. Vijay Sharma- As a tech company Optoma continuously innovates. Nowadays, SSL projectors is a hot topic, but we had launched a series of environmentally friendly laser Phosphorus projectors back in 2019.
Optoma consistently introduces modern products to meet the diverse demands of the market. Undoubtedly, technology is rapidly advancing within educational & Home settings. Consequently, teachers and students require access to novel and enhanced methods for presenting content and engaging with pupils, as this has become a necessity in modern education. Home buyers have become demanding with advancement in content and resolution in which content is available. Laser with 4K resolution is go to Projection technology.
This year, the Interactive Flat Panel (IFP) segment is undergoing a transition towards integrating AI technologies. AI and automation technologies are poised to significantly impact the pro-AV industry in 2024. AI-powered solutions can streamline processes, improve efficiency, and enhance the quality of audiovisual content and experiences. We anticipate a surge in demand for AI-enabled IFP panels very soon in future starting from the second half of the year. Such panels are set to revolutionize learning experiences, offering innovative tools for reshaping educational paradigms. As a renowned provider of cutting-edge products, we are preparing to launch our own high-tech IFP panels in the near future.
Product Range and Features:
Suman- What are the key features that set Optoma’s 4K UHD projectors and DLP® products apart from competitors? Can you discuss any recent product launches or upcoming products that you are particularly excited about?
Mr. Vijay Sharma- At Optoma, we take pride on being a top projector brand, consistently introducing cutting-edge technology ahead of the competition. We have recently launched OMA-S world’s 1st RGB laser projector which is a as small as to be held in a human palm and display rich colours, our range premium 4K laser ultrashort throw projector TV’s delivers a massive 120-inch screen just inches from the wall or screen. We also came up with the world’s first 240-hz gaming projector, showcasing our commitment to innovation. Beyond technological advancements, we are dedicated to enhancing people’s lives with eco-friendly products and solutions. Our product designs focus on reducing carbon footprints, eliminating hazardous chemicals, and incorporating recycled and recyclable materials, ensuring top-notch experiences without harming the environment.
Optoma’s latest projector, the UHC66LV, is a cutting-edge addition to the product line, offering an incredibly bright and unforgettable 4K UHD experience with 5500 lumens. Featuring the latest technology, it supports HDR and HLG, ensuring true-to-life color reproduction with its advanced color technology. The projector also includes sophisticated PureMotion frame-interpolation processing to eliminate motion blurring and image judder, along with full 3D capabilities.
Market Leadership:
Suman- Optoma is recognized as a world leader in 4K UHD projectors and DLP® technology. What strategies have been most effective in achieving and maintaining this market leadership?
Mr. Vijay Sharma- Last year witnessed robust sales of projectors & IFP in India, with Optoma emerging as the leading brand in the 4K UHD projector category worldwide. In the Indian market specifically, Optoma successfully maintained its dominant position across various segments including 4K UHD, laser projectors, and laser TV projectors. Thanks to its exceptional performance in the home projector divisions, Optoma secured a significant market share in these segments.
Optoma experienced an increase in its market share specifically in the 4K UHD category. According to Pacific Media Associates (PMA), Optoma has a 49% market share in the 4K UHD segment, a 43% market share in the laser projector segment, and a 60% market share in the laser TV projector segment. Furthermore, recent surveys indicate that Optoma ranks among the top three brands in the global projector market.
Additionally, as consumers increasingly value sustainability and social responsibility, we are dedicated to showcasing our environmental commitment in our manufacturing processes, product design, and corporate practices. This strategy is likely to appeal to environmentally conscious consumers and boost our brand’s reputation.
Customer-Centric Approach:
Suman- Optoma emphasizes that everything starts and ends with the people you serve. How do you ensure that customer feedback and needs are at the forefront of your product development?
Mr. Vijay Sharma- Optoma’s interactive displays are designed to fit the needs of teachers and students seamlessly. By listening to educators and gathering customer feedback, Optoma creates solutions that remove the challenging barriers facing teachers today. The result; intuitive user-friendly software to work in harmony with the way you educate.
Being in this competitive market, we understand that customer is the king and like every brand we take customer feedback very seriously and share with research and development department. There after new product range is designed accordingly.
Sustainability and Corporate Responsibility:
Suman- What steps does Optoma take to ensure its operations and products are environmentally sustainable?
Mr. Vijay Sharma- As a forward-looking and responsible company, we believe in adopting sustainable practices to operate our business without harming the environment and ecology. Our green promise represents our commitment towards creating sustainable products to minimize the carbon impact on nature. From product designing till the end of the buying cycle, we adopted an eco-friendly method to create products that are lamp free, light weight, and portable having minimum adverse impact on the environment.
We launched a complete green, eco-friendly projectors in 2022 that have minimal impact on the environment and surroundings. Our products are designed to be energy-saving, mercury-free, and affordable for the Indian market. Optoma’s range of eco-friendly products includes the L1+, ZX350e, ZW350e, ZH350, AZX360ST, AZW360ST, and AZH360ST. These projectors are made from recyclable materials to reduce waste and carbon footprints.
Partnerships and Collaborations:
Suman- Does Optoma engage in any strategic partnerships or collaborations with partners or channel industry to enhance its product offerings? How do these partnerships contribute to the development and success of Optoma’s visual solutions?
Mr. Vijay Sharma- We are really thankful to our channel partners for their significant contributions to the company’s growth in India. In order to execute our marketing strategy effectively, we encourage our partners to create compelling offers for customers and provide a convenient pre sales and post sales service experience. We are committed to supporting our partners by providing just margins & transparent eco system to ensure profitability while maintaining competitive price points.
We have meticulously structured our partner programs to maximize the profitability of our associates without compromising on pricing. We encourage them to craft compelling offers for customers and provide a seamless shopping experience. we impart them with training and support in their local marketing programs.
I strongly recommend that our partners go the extra mile and leverage available resources to establish meaningful connections with customers, ultimately enhancing sales performance.
It’s essential for them to effectively represent the brand, connect with customers, and offer suitable solutions. We suggest going the extra mile and utilizing available resources to strengthen customer relationships and boost sales.
Future Vision and Goals:
Suman- What are Optoma’s goals for the next five to ten years, and how does the company plan to achieve them?
Mr. Vijay Sharma- Optoma has a 49% market share in the 4K UHD segment, a 43% market share in the laser projector segment, and a 60% market share in the laser TV projector segment according to Pacific Media Associates (PMA). Some of the recent market surveys indicate that Optoma ranks among the top three brands in the global projector market. We envision to build on our current performance. By the end of 2024, our goal is to increase income to more than 2.5 times what it was in the previous calendar year. Additionally, as consumers increasingly prioritize sustainability and social responsibility in their purchasing decisions, we aim to highlight our commitment to environmental consciousness throughout our manufacturing processes, product design, and corporate practices. This strategy is designed to attract environmentally-conscious consumers and further enhance our brand reputation.
