the company launched a LCD TV bundled with DTH and internet chip which does not need a set top box.
“Videocon has always been ahead of times, even when we launched Internet television 10 years ago. Though, we have realised that the timing of the launch is important to stay ahead in the game,” said Anirudh Dhoot, director, Videocon Industries.
After spending 10 years in the company, Anirudh is now actively taking charge to drive the consumer electronics and the appliances business. Over the last few years, Videocon Industries has seen stagnation set in its business on the revenues side even as its net profit has taken a dip. Its net profit dipped 21.3% to R429.1 crore for the period 2011-12 as compared to the year-ago period. The company’s sales dipped 1.4% to R12,733 crore for the period 2011-12 even as it had dipped 12% to R12,919 crore a year ago. While the task to take Videocon Industries to newer heights is uphill, Dhoot believes a turnaround is possible. However, he refused to give any forward-looking targets.
“At present the consumer durables and the appliances business is about 40% of the total Videocon conglomerate sales of about $4 billion. Our strategy is to deliver better technology in the consumer business which will help improve marketshare,” he said .
“Videocon wants to enter the big league in consumer durable space. The LCD we have launched is just a step towards it. While we are very strong in tier 2 and 3 cities, our efforts will be to increase touch points with deeper penetration,” said HS Bhatia, chief marketing officer, Videocon.
Son rises: Videocon eyes comeback on tech drive - Hindustan Times