Expanding from 1.4 million TV sets to 3.2 million units, Videotex targets to boost the Centre’s Make in India initiative.
NEW DELHI, June 20 (The CONNECT) -Videotex, an ODM and OEM for LED TVs for the last four decades, plans to invest Rs 100 crore in its new manufacturing facility in Noida and aims to achieve the next milestone of 500 crore revenue by the end of the fiscal year.
Arjun Bajaj, Director of Videotex International said the company’s new manufacturing facility, which shall be operational within this year, will boost the business with a robust R&D, new smart TV solutions, highly optimised & advanced production lines and strategic partnerships.
With the new plant at Noida, Videotex is also looking to expand into the export market, initially targeting neighbouring countries, the Middle East, and Africa.
The 1,40,000 sq ft facility will heavily automate the processes and functions with which the Company shall become the most sought-after Indian TV ODM manufacturer.
The investment will enable the Company to strengthen its in-house innovation & design capabilities with a focus on IoT and AI technologies that will distinguish the product technologies and meet the changing needs of consumers, Bajaj said.
Additionally, Videotex will upgrade its existing manufacturing facility with fully automated, AI-enabled manufacturing lines, readying it for Industry 4.0 needs.
The Company expects 20-25% YoY growth over the next three years on the back of the growing demand for Smart TVs in India. Videotex currently manufactures over 1.4 million TVs in India and, with the new facility, shall boast a total capacity of 3.2 million TV units, boosting the Centre’s "Make in India" initiative.
Bajaj said, Videotex currently makes smart TVs for Lloyd, Realmi, Toshiba, Hyundai, BPL, Vise, Daiwa and more than 15 leading Global and Domestic brands. The Company is among the top webOS TV ODM manufacturers in India.
Videotex is the first Indian ODM player to get an official license for manufacturing LG's ground-breaking and brilliant webOS Hub operated smart TVs. Last year the Company also became a strategic partner of webOS by onboarding their latest webOS 2.0 smart TV solution.
In upcoming months, Videotex will also offer Google TV and Android TV solutions with a host of features tailored exclusively for the Indian market. Their product portfolio includes both 2K, 4K and QLED TVs starting from 32 to 86 inches. In addition, the company is working on several advanced Smart TV technologies in India, which will be revealed in the coming months.
"Being one of the oldest players in this industry, we have captured over 50% market share in the smart TV ODM space among the contract manufacturers in India,” Bajaj said.
Founded In 1984 Videotex International is a Homegrown consumer electronics maker. Videotex International are an original design manufacturers of television sets in India. They started manufacturing LED TVs under own brand name Videotex in 1984 and gradually became the major ODM Supplier for CRT TV’s, LED TVs and TV Video & Power Board in India. Videotex have over four decades of experience in the market and have been a major ODM for many leading OEMs for LED TVs and motherboards. Today they manufacture LED TVs and Smart TVs to keep in line with the latest trends. They provide the best features at a price point and additional features at an extra affordable price. Their prices are highly affordable compared to other providers.