US-based consumer electronics brand Westinghouse Electric Corporation has forayed into the Indian market and has launched a range of its TV sets here. The brand has come here in collaboration with its Indian licensing partner Super Plastronics Pvt Ltd (SPPL) with whom it has entered into an exclusive licensing agreement. The brand will operate into the affordable segment of the LED TV and aims to gain a market share of 3-5% by the end of next year. As per the licensing contract, Westinghouse's manufacturing, branding, designing, packaging, and retailing supply chain will be handled by SPPL.
The Noida-based SPPL already has branding licence for international brands which includes Blaupunkt, Thomson, Kodak and White-Westinghouse. Commenting on the development, SPPL Vice-President said: "We are enormously elated to onboard such a trustworthy brand like Westinghouse that is a well-famed as an American consumer electronics giant."

Westinghouse, the brand that has a legacy of around 130 years, would compete in the entry-level affordable segment of the smart and non-smart LED TV segment. This would be exclusively available on the e-commerce platform Amazon. "Our prevailing collaboration with Amazon will play a predominant role to make these Television models reach millions of consumers. With this much-awaited launch on Amazon, company is expecting to additionally gain a market share of 3-5% of the affordable TV category by the end of next year. The entire range of Westinghouse TV would be manufactured locally in India by SPPL at its manufacturing units. SPPL has 3 manufacturing plants in India located in Noida, Una and Jammu.



Question:
Define licensing and explain the results that licensing would bring for US based consumer electronics brand as mentioned in the case study.