The Astrum, a consumer electronics brand started in Hongkong in 2008; deals in various kinds of mobile accessories, Audio devices, IT or LED lights. They foresaw that the upcoming world would be full of smart devices connected each other via the internet, so recently, Astrum has also focused on the IoT based products. According to the company, they have an extensive portfolio of over 1000+ unique products across 40 categories.
Currently, the Astrum works in over 40 countries across the globe which includes South Africa, Australia, India, Hong Kong, China. Hungary, Pakistan, Bangladesh, Dubai, Nigeria, Fiji, Singapore, Malaysia, Indonesia, and Mauritius.
To know more about the Astrum plans and condition of the market in India, we interviewed Mr. Manoj Kumar Pansari (Chairman & Managing Director) CMD, Astrum Holdings. We asked him a couple of questions and here are some of them…
About Mr. Manoj Kumar Pansari, CMD of Astrum
Mr. Manoj Kumar is a first-generation entrepreneur and also the visionary in the true sense. Under his leadership, Astrum has grown to a company whose goal is to break down the barriers between people & technology. Maintaining the principle of creating one’s own roadmaps, he is attributed as one of the Industry leaders. Astrum’s growth internationally over a period of 10 years in 17 countries is only due to the hard work & guidance of Mr. Pansari. His key vision for Astrum is to think smart & challenge the norm by creating exceptional products. Enthusiastic about growth, Mr. Pansari is a combination of business expertise and a creative mind. He is skilled at using his knowledge, skills, and proficiency to make the best use of people’s potential. Inspired by successful leaders like Ratan Tata & Bill Gates, Mr. Manoj is determined to get the best results. An avid reader, Manoj is also fond of traveling and loves movies.
- How was the journey of Astrum in India so far? What are the highs and lows you have been faced to make it a brand name?
Astrum with a widespread presence in over 40 countries across the globe has redefined ‘new technology’ in the Indian Market. Staying on the tip of technology has allowed the brand to do what we love best: using technology in countless ways to ease people’s life. Encouraged by our success as leading mobile & IT accessories player in the Global markets for a decade now, Astrum aims to leverage its strengths and experiences from the global market and replicate the same in India. In India, Astrum has put all the efforts to break the trade-off between innovation, quality, and cost. Today Astrum has proudly earned its place amongst the leading brands for accessories in India. Astrum is more than just a company name – it’s a brand that promises an experience to people.
The market recently has witnessed an influx of newer brands with more technological prowess and today the consumer is spoilt for choice. Today, consumers are more experimental in trying out new things and new technologies, rather than betting their allegiance on brands that have existed for years. In light of the above-discussed issues that could also be summarized as challenges.
- What is the situation of the mobile accessories market in India? Is it competitive or favorable to Astrum?
As there are 990 Million Mobile subscribers in India of which Smartphone users are pegged at 40% taking the total number of smart phones in India to approximately 400 Million. As it is obvious from the above, India has still a lot of catching up to do over the coming years, hence the forecast for the Smart Phone and accessories space is strong. And as there is Smart Phone there are many accessories which go along with it. Therefore, our reading for the Mobile Accessories Market in India is the coming times are very exciting in terms of the business growth and we are gearing up with innovative and user friendly products to cater to the growing demand of Hi-Tech accessories like fast charging in a fast paced world.
- Which product category of Astrum performing well in Tier 2 &3 cities and why?
Our Audio Range has been quite popular among the Tier 2 and Tier 3 Markets. Apart from which Power Banks has also seen quite aggressive pull in the Markets. The reason our Products have been able to strike the right chord among Tier 2 and Tier 3 Markets, as we are able to deliver the Value for Money in our Goods. Not only our products emphasize the style quotient but also bring the latest technology at the most affordable price points.
- Any product expansion plans for the near future?
We carry a huge product portfolio across multiple categories like Mobile Accessories, PC Accessories, Smart Products to name a few.. Typically, we launch over 8-10 products a Quarter. In the future, we are planning to extend our portfolio to audio devices, LED lights, accessories for mobile, computer components, gaming controllers once we set our first manufacturing unit in Andhra Pradesh.
- Most of the products of Astrum are budget-friendly, is there any specific reason to not touch the premium segment?
The reason for budget-friendly products is the price-sensitive nature of the Indian Consumer where quality takes a beating to accommodate more aggressive price points. The consumers however need something more; basically, a reason to buy the product and only great quality isn’t going to help. That’s where our pricing strategy helps which is where Astrum has been focusing all its energy in bringing balance between the both.
- What is the current position of the Astrum in the Indian market? Would you like to share some sales figures?
Astrum is currently one of the fastest growing Mobile Accessories Brand in India. In terms of current position/sales figures, it’s too soon to comment. However overall the Brand has seen a very strong response from the Market which is further helping us boost new ideas and plans.
- Astrum is a multinational company, so how the Indian market is different from the rest of the regions?
India is a market which focuses on a product that has quality. The audience is no longer price savvy but quality savvy. Having said that, our brand strategy mainly focusses on quality and not run behind the Price – War. Also, the Consumers are no longer naïve about Technology they have grown with the Market.
- How Astrum ensures that their products are up to the quality mark?
Consumer centric R&D has always been the strength of Astrum as a brand, we are constantly working towards reaching best in class technology products to the consumers while remaining focused on the price: performance ratio of our products. With a failure rate, which is in decimals we are happy to be delivering reliable products time and again. Our R&D team is constantly developing new products towards enhancing the living standards of our Consumers.
- At last, would like to give some message to our readers or the Indian consumers?
Astrum wants to connect people with technology – empower users with Technology, redefining the Indian Markets. Our vision is to Break down the barriers and keep people connected.