With the festive season on, people across India have started shopping for their favourite products. While rising component costs and supply-chain challenges remain major concerns for the electronics industry, BenQ India is seeing strong growth in India compared to last year. The company aims for Rs1,000 crore in revenue by 2026. The company is gaining momentum as its business-to-business (B2B) and business-to-consumer (B2C) segments grow. Gadgets 360 spoke with Rajeev Singh, Managing Director, BenQ India and South Asia, about the company’s growth plans, how global geopolitical tensions are affecting business, shifting demand in the B2B and B2C segments, and the growing popularity of home projectors in India. As projectors become more popular in India, we asked Rajeev what the ideal cost of purchasing a good projector today is. They also discussed regional demand trends, projectors’ potential to challenge traditional TVs, and BenQ’s focus on monitors for content creators. We edited and shortened a few responses for clarity.
How does 2025 look for BenQ India in terms of growth and market momentum in India, and what business or revenue targets have you set for 2026?
In the last financial year 2025, our revenue was about Rs 690 crore, up almost 25% from the previous year. Our financial year runs from January to December. We have set a target of Rs 1,000 crore for calendar year 2026, which is a growth of around 40-45%. The first nine months are over, and we are on track, so we should hit Rs 1,000 crore in December.
BenQ India is seeing strong growth in India compared to last year
Photo Credit: BenQ
How are Middle East tensions and component shortages affecting BenQ’s supply chain and costs?
Middle East tensions haven’t affected us so far, and we don’t expect a major impact. Yes, we have kept one additional month of stock as a buffer.  Earlier, we worked with 30–40 days of stock. Now we are working with 60–70 days of stock, and for some products, even up to 90 days. However, rising hardware demand from AI is creating shortages of memory, processors, and PCBs, pushing prices up. It started with memory and then processors. Now it has extended to PCBs. The PCB shortage is also affecting us. PCBs go into every product. When it was limited to memory and processors, two of our products, monitors and projectors, were not affected. Only interactive flat panels were affected. Now that PCB shortages are in the picture, every electronic product is affected. This is a challenge we are working on.
How is BenQ’s business split between B2B and B2C, and which segment is driving growth in 2026?
In 2026, B2B and B2C are expected to contribute almost equally, at around Rs 500 crore each. Last year, the mix was closer to 60:40, with B2C accounting for the larger share. Last year, several government smart classroom projects were delayed as funding was diverted towards defence amid the India-Pakistan tensions. This significantly impacted our B2B business, as government education projects are a large part of this segment. This year, the government education business is recovering, although it hasn’t yet reached the levels we had hoped. B2C is growing about 30%, while B2B is growing about 50%. Both segments are performing well, but B2B is growing faster, which is changing the overall business mix.
Which region in India is the biggest market for BenQ in terms of projectors?
In India, we are seeing the highest demand for projectors from the South region, which brings us 39% of the business. Consumers here are more tech-savvy and are willing to spend on mid-range and premium products. In addition, the South has greater purchasing power and buys more expensive devices than the all-India average. They enjoy watching content on the big screen. The movie-related demand is strongest in Hyderabad and Andhra Pradesh. Interest is not as strong in the North, so the number of home theatres in the South differs significantly. The technology side is strongest in Karnataka, particularly Bengaluru. We also have a strong presence in Kerala, where we are the number one brand in monitors.
What is a realistic budget for a good home projector, and what should consumers expect at different price points?
Nowadays, a good projector can be purchased in the Rs 50,000 to 70,000 range. Many cheaper projectors are available for around Rs 10K to 20K, but their specifications and performance may not always meet expectations. You can find DLP laser projectors in the Rs 50,000 to 70,000  range with better performance and a light-source life of up to 50,000 hours. BenQ’s TH575i and GV50 projectors are also available in this price segment. Newer projectors are also easier to set up, with automatic adjustments that help align the picture to the projection surface and correct it when objects come in the way. This makes them more convenient for everyday use.
Do you think projectors will replace TVs in India in the coming years?
I think this will be one of the biggest changes we see, and it will be across multiple market segments. And this is already happening at the entry level. You can buy projectors in the Rs 10,000 to 20,000 range, but they may not offer the best capabilities and performance. These devices are attracting first-time buyers, including people from middle-income families. People will get used to watching content on a projector and will be less likely to go back to a TV. They can start with a projector of Rs 20,000 to 25,000 and later upgrade to a DLP projector, which costs around Rs 60,000 to 70,000. They may not be keen on a conventional TV, having been used to a bigger projected image. Another big difference is the way you watch. TVs make their own light; projectors project an image with reflected light. We generally see our surroundings through reflected light rather than looking directly at a light source. Watching TV for extended periods, such as during a three-and-a-half-hour match or a seven-hour one-day cricket match, can cause eye discomfort for some viewers. A projector offers a different viewing experience, letting users enjoy a much larger image, 120 or even 150 inches, while sitting relatively close to the screen.
How important is the creator economy to BenQ, and how are its monitors designed for content creators?
The creator economy is very important for us. We have launched a monitor specifically for content creators, including YouTubers and Instagrammers, while our separate series caters to professional photographers. These monitors cover the entire content creation workflow, especially editing before upload. They offer accurate colour reproduction, ensuring that the colours creators see while editing closely match the original content and look as intended when published.
