Baofeng Group Co Ltd, a Beijing-based internet entertainment and technology company, is bullish on the prospects of the home projector market as it is witnessing 55 percent growth annually, and will increase its investments in artificial intelligence sector.

"We will apply cutting-edge technology into our hardware products, such as televisions and projectors," said Feng Xin, chief executive officer of Baofeng Group.

Feng said he is confident on the growth potential for home projectors.