Syska enters smart home segment, eyes Rs 200 crore revenue in FY20
Electronic appliances brand Syska has entered into a tie-up with global Internet of Things (IoT) firm Tuya Smart to offer smart home products for Indian customers. As part of this initiative, Syska will sell products such as door bells, switches, ceiling light, door-sensors, that are 'smart.'
The smart home market in India is estimated to be $850 million and is growing 30 percent annually. Syska hopes to convert 2 million households into smart homes next year.
In an interaction with Moneycontrol, Gurumukh Uttamchandani, Executive Director, Syska said the smart home segment is grossly under-penetrated in the country. By making an entry into this space, the company wants to have the first-mover advantage.
Uttamchandani said smart homes may see a similar pick-up like that of smartphones. “In 2002, smartphones were considered a luxury; now everyone has it. We see a future of the small-home industry similar to this,” he said.
Apart from the gadgets that make the home smart, Syska has also launched smart fans and smart weighing scales. The weighing scale, for instance, measures bone density, body fat and also gives reminders about daily workouts.
Read More at: