Orion Home Appliance wants to be electronics market leader in five years

Orion Home Appliance Limited made its entry into Bangladesh's electronics market with products like refrigerators, air conditioners, televisions and home appliances in 2021.

In an interview with The Business Standard, Md Abu Tariq Zia Chowdhury, chief marketing officer of Orion Home Appliance, talked about the present business condition and future plans of the company.

The interview was conducted by TBS staff correspondent Ahsan Habib Tuhin.

What is the future of the electronics market in the country?

Now almost all the regions of the country have come under electricity supply and new consumers are being created in the electronics sector. Currently, electronics is considered as the fastest growing sector in Bangladesh.

Meanwhile, the income of the people has also increased due to the economic growth of the country. As a result, the use of electronics products like refrigerators and ACs is increasing among people. This market will have a sustainable growth till 2030.

Which class of consumers are you targeting to capture the market?

Our target customers are mass people who have a monthly income of around Tk40,000. We are manufacturing our products by maintaining standards in line with the demand of these customers. We are new in the electronics market right now. We will gradually introduce premium category products.

In what position do you want to see your company in the market?

We want to be the market leader in every product that we manufacture in the electronics sector within the next five years. And within three years, we want to be among the three leading companies in the market.

Why will people buy your products?

We have clear ideas of how other companies here are manufacturing products and serving customers. We are trying to provide better products at relatively convenient prices compared to them. Our services will also be better than those of the other companies. We hope to capture the market with our efforts to be better in every aspect.

We know that technology is always changing with time. We are manufacturing our products using updated technology compared to other companies. In this respect, the technology we use is very different from that of others. And with this we would like to attain the top position.

Recently production cost has increased due to the dollar price hike and a surge in the import cost of raw materials. But we have not increased the prices of our products, considering the customers. Our aim is to provide standard products to customers at reasonable prices.

How would you evaluate the first year of your business?

We started in winter, which is considered a dull season for the electronics sector. But at that time, we got a good response from customers. So, we can say that we have done well in the first one year. In this time, we have disseminated Orion's products all over the country through our own showrooms and appointed dealers.

We can say that we have achieved our first year's target. So, we will be able to fulfill our future targets too. But to meet this target we need to increase both our investment and production. And we are ready to invest further.

After-sales service is an important issue. What are your plans in this regard?

We have appointed the necessary number of technicians at the district level to provide after-sales service. We solve complex problems by bringing the products in the factory at our own expenses. We have plans to have our own service centres in different districts. It would help us to provide any kind of after-sales service within 24-36 hours.