Md Rais Qureshi, Managing Director

Innovation is at the heart of industrial competitiveness today, and technological leaps streamlining production have proved that by enhancing product quality and customization in the electronics industry. Significantly, as the rollout of 5G, the evolving EV market, and IoT-enabled devices are propelling demands for electronics products, the Indian electronics technology manufacturing industry stands upright, projected to observe growth accounting for $140 billion by 2025. Among many other companies capitalizing on this growth, while striving to contribute to domestic production by backing government initiatives like ‘Make in India’ and PLI (Production Linked Incentive) is SKYLED, an electronics manufacturer.

Established in 2014, Kolkata-based, SKYLED is the brainchild of Md Rais Qureshi who has been obsessed with technology and strives to build on it by driving electronics production that is sustainable and affordable. SKYLED focuses on manufacturing LED TVs and control unit systems. Before founding SKYLED, Md Rais Qureshi ran a company called SKYMOBILE (2007- 13) manufacturing mobile phones. Initially, the journey had been difficult, having to acquire the market by competing against well-established multinational brands, but gradually it gained traction, thanks to its commitment to quality and service.

There are significant gaps in the market, particularly regarding pricing and innovation, but SKYLED stands tall owing to its emphasis on product quality, innovation, and competitive pricing. Md Rais Qureshi, Managing Director, SKYLED says, “I analyzed what international brands were offering in terms of products and price points. For instance, one notable multinational brand, Samsung, sold a 32-inch television for ₹19,500. Recognizing this gap, we decided to offer our 32-inch television at ₹13,500, while incorporating better features. This approach allowed us to understand the market’s demand for innovative products at lower prices, which is essential in India’s price-sensitive market”.

By blending innovation, sustainability, and affordability, SKYLED is transforming the Indian electronics market, making quality technology accessible to all

The company offers Google TVs at prices that are 30- 40 percent lower than its competitors. It has been closely associated with this technology in China and Japan since 2006 and holds connections with a manufacturer in Japan and China that produces motherboards. They may not be a large manufacturer, but they supply high-quality components to companies like SKYLED, rather than to the bigger brands. SKYLED’s sourcing strategy is robust and effectively helps it achieve competitive pricing while maintaining high quality and innovation. This approach sets it apart and allows it to effectively penetrate the market.

The company offers a range of products, like LED TVs ranging from 24 inches to 75 inches, music systems priced between ₹500 and ₹5000, air conditioners, and more. All of its products are BIS and GE approved. SKYLED is the second brand in India to achieve these certifications. The The competition has been fierce since these multinational companies have substantial financial backing. The journey to establishing this company has been tough and filled with challenges like a roller-coaster ride, however as an interested business leader, the founder navigated through involving passionately in the business and taking challenges as a learning opportunity.

The company’s product pricing is very competitive and quite affordable. Formidably, currently, it not only operates in India but on an international level as well. It reaches its customers through a network of distributors appointed Pan India. These distributors distribute and deliver the products to retailers and whole sellers, especially those in rural areas who may want its products but find them financially out of reach. These local distributors play a crucial role in helping the company penetrate the market.

Md Rais Qureshi states, “It’s crucial to understand the market before launching any product or idea. In a competitive market, no one has a monopoly in any field, so recognizing these gaps is essential. To address this, I appointed distributors and Micro Distributors with a minimal initial investment. I told them to start by picking up 50 TVs. Once they sell 50 TVs, they can buy another 50. This approach does not require a large commitment like that of a big brand, which typically demands purchasing a large quantity of products to become a distributor. Instead, our model allows them to buy just 50 TVs and enjoy a margin of 10 percent to 20 percent. Once they sell the initial products, they can return to us to restock”.

Additionally, it even conducts training sessions for the distributors. To attend these sessions, distributors come to locations like Calcutta and Delhi for two to three days and learn how to repair televisions and music systems. This knowledge is vital for them to effectively penetrate the market and establish a foothold. After completing the training, they return to their locations, open service centers, and start selling SKYLED’s products.

Growth & Future Roadmap

Witnessing significant growth, the company has gained several positive customer feedbacks over the years and even been awarded as Upcoming Brand in 2024 by the Indian Chamber of Commerce (ICC). Looking forward, as an LED TVs manufacturer, SKYLED aspires to keep growing by providing good products and value-addition, and top-notch quality products to the market at a better price.