TVS Electronics, a listed company under the TVS Group, is expecting its Point-Of-Sale (POS) business to grow better, driven by the retail sector. The company, which has earlier seen a decline in the Dot Matrix Printers, is focusing on POS products focusing customers, such as thermal printers, scanners and label printers to mitigate this impact, a news report suggested.
In the products business, the company expects the POS category to grow at 12-15% in future, driven by expanding retail sector, according to company sources, reports Business Standard.
During the last fiscal year, the market for Dot Matrix Printers (DMP) continued to decline given the preference for end users for new technology laser printers. However, the Company has mitigated this impact by improving POS (Point-of-Sale) business. The market for POS products is growing at a CAGR of 12% riding on the demand from retail sector, it said.
The company is focusing on customer-centric products like Thermal Printers, Scanners, Label Printers, which has posted volume growth. It has also retained its position in the dot matrix printer market and the business is profitable and generates valuable cash flow, said the company.
Besides, the company is also planning to set up consumer service centres under 'Multi-Brand Outlet' (MBO) model, with the demand for out-of-warranty services increasing. "This will help consumers get reliable and high quality services for their devices," said company management.
The company, founded in 1986 as an IT peripherals manufacturer, is into transaction automation IT product manufacturer and service provider. The products arm of the company manufactures and sells Point of sale devices, Printers and Keyboards across various cities in the country.