Videocon Group

Overview

Videocon Industries Limited

type	Private
isin	isin: INE703A01011
founder	Nandlal Dhoot
area served	Worldwide
key people	Anandilal Kathpitia (Chairman & MD)‡R1R‡
industry	Conglomerate
products	Consumer electronics Home appliances Components Office automation Mobile phones Wireless Internet Petroleum Satellite television Power
revenue	₹12,828.6 crore (US$1.95 billion) (2017)‡R2R‡
net income	₹1915.67 crore (US$291 million) (2017)‡R2R‡
assets	₹35738.5 crore (US$5.43 billion) (2017)‡R2R‡
equity	₹8391.07 crore (US$1.27 billion) (2017)‡R2R‡
owner	Vedanta Resources
num employees	10,000 (2012)
foundation	1979
location city	Mumbai, Maharashtra
location country	India
dissolved	2021; 4 years ago
website	https://videoconindustriesltd.com/

Videocon Industries Limited was an Indian multinational conglomerate, headquartered in Mumbai.[3] The company was founded in 1979, by Venugopal Dhoot. The group had 17 manufacturing sites in India and plants in mainland China, Poland, Italy and Mexico. It was the third largest picture tube manufacturer in the world[4] valued at US$5.5 billion.[5]

The company stopped trading and entered corporate insolvency proceeding in June 2018. In June 2021, NCLT approved Vedanta Group's bid to take over Videocon, paving the way for the new ownership.[6]

Early years

Corporate profile

The Videocon group's core areas of business are consumer electronics and home appliances. They diversified into areas such as DTH, power and oil exploration.

Consumer electronics

In India, the group sold consumer products like colour televisions, washing machines, air conditioners, refrigerators, microwave ovens and many other home appliances, through a multi-brand strategy with the largest sales and service network in India.

Since the entry of Korean Chaebols and their rising popularity in the Indian market, Videocon from a stand-point of market leader has seen a slow decline to become a no. 3 player in India. The company continued to do well in the washing machine and refrigerator segment.[8]

Mobile phones

In November 2009, Videocon launched its new line of mobile phones.[9] Videocon has since launched a number of handsets ranging from basic colour FM phones to high-end Android devices. In February 2011, Videocon Mobile Phones launched the hitherto unknown concept of 'Zero' paise (1 paisa is the 100th unit of 1 Indian rupee) per second with bundled SIM cards of Videocon mobile services for 7 of its handset models. In July 2015, Videocon Mobiles launched its own flagship smartphone Videocon Infinium Z51+ in India.[10] On 7 June 2016, Videocon Mobile launched its new smartphone 'Videocon Cube3 V50290'[11] in India.[12]

Videocon Petroleum had 25% stake in Ravva oil field which is operated by Cairn India in Andhra Pradesh.[13]

Acquisition of CPT arm of Thomson SA

Videocon acquired the colour picture tube (CPT) businesses from Thomson S.A. of France having manufacturing facilities in Poland, Italy, Mexico and China along with support research and development facilities in the fiscal year 2005.[14][15]

Videocon Group

Early years

Corporate profile

Consumer electronics

Mobile phones

Acquisition of CPT arm of Thomson SA

Acquisition of CPT arm of Thomson SA

Decline

Controversy with ICICI loan fraud

See also

External links

References