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Videocon focuses on Europe - Views on News from Equitymaster
 
 
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  • Sep 9, 1999

    Videocon focuses on Europe

    The Videocon Group plans to launch a new 14-inch colour television (CTV), to spearhead its entry in the European consumer electronics market.

    The Videocon group manufactures and markets a wide range of consumer durables, which include refrigerators, washing machines, air conditioners, and other household appliances. The company has tied up with Matsushita Electronics, Japan for producing and marketing white goods. Videocon is the market leader in the washing machines segment with a 58% market share and commands 20% market share in the refrigerators segment. It is also a leading producer of television sets, audio and video systems.

    Videocon has already initiated talks with some European companies that can provide an assembly line to manufacture the 14-inch CTVs. Industry watchers are of the view that the group may opt for Italy, as it already owns an Italian compressor manufacturing company known as Necci.

    The group plans to source vital components from India to make its products price competitive. But, the colour picture tubes will have to be sourced from its European counterparts, as they attract high import duties. In the long term, the group is targeting to corner at least 3% in global markets in each product category it operates in and hopes to become a Rs 200 bn global consumer durables giant by 2007.

    If the company manages to get recognition in the overseas market, it will help it leverage its brand in other white goods segments and spur its globalisation drive. The group will be able to hedge its operations since it will be catering to a wider market. On the flip side, the European market is very competitive and hence margins are likely to be thinner.

     

     

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