Videocon Group

Videocon Industries Limited is a large diversified Indian company headquartered in Mumbai India.[3] The group has 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] The group is a US$5.5 billion global conglomerate. Videocon has various brands under its portfolio.[5]

Videocon Industries Private Limited
Traded asBSE: 511389
NSE: VIDEOIND
IndustryConglomerate
Founded1979 (1979)
FounderVenugopal Dhoot[1]
Headquarters
Mumbai, Maharashtra
,
India
Area served
Worldwide
Key people
Venugopal Dhoot
(Chairman & MD)[1]
ProductsConsumer Electronics
Home Appliances
Components
Office Automation
Mobile phones
Wireless
Internet
Petroleum
Satellite television
Power
Revenue ₹12,828.6 crore
(US$1.95 billion) (2017)[2]
₹1,915.67 crore
(US$291 million) (2017)[2]
Total assets₹35,738.5 crore
(US$5.43 billion) (2017)[2]
Total equity₹8,391.07 crore
(US$1.27 billion) (2017)[2]
Number of employees
10,000 (2012)
SubsidiariesVideocon Consumer Electronics & Home Appliances
Electrolux India

Early years

In 1985, Aurangabad based Nandlal Madhavlal Dhoot founded and incorporated Videocon International with a goal of manufacturing 1 lakh TV sets per year. "Videocon became the first company to bring colour TVs in India," claims Anirudh Dhoot, the founder's grandson (and Venugopal Dhoot's son) and Videocon's current director.[6]

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 sells 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 continues to do well in the washing machine and refrigerator segment.[7]

Mobile phones

In November 2009, Videocon launched its new line of mobile phones.[8] 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.[9]

On 7 June 2016, Videocon Mobile launched its new smartphone 'Videocon Cube3 V50290'[10] in India.[11] It includes features like 12.7 cm (5 inches) screen with 5 Multi-Touch Point, Dragontrail X 2.5D Curved Glass, Quad Core 64-bit Processor, Smart Gesture Support, 3000mAh battery, Android 6.0 Marshmallow OS, 4G with VoLTE, 13MP Rear + 5MP Front Camera with LED Flash.

DTH

In 2009, Videocon launched its DTH product, called d2h. As a pioneering offer in the Indian DTH market and introduced first radio frequency remote in India, Videocon offered LCD & TVs with built-in DTH satellite receiver with sizes 19" to 42". This technology is known as DDB. It provides service with lesser transmission losses resulting in richer picture and sound quality. It also eliminates the need for separate set-top-box and its remote. Videocon is the first brand to introduce DDB technology in India. The unit was sold to Dish TV in 2018.

Telecommunication

Videocon Telecommunications Limited has a licence for mobile service operations across India. It launched its services on 7 April 2010 in Mumbai. The company closed its mobile services in 2017 after spectrum sale to Bharti Airtel. It continues it wired internet services under Connect Broadband brand.

Retail

Videocon owns three retail brands : Planet M, DigiWorld and Next.

Petroleum

Videocon Petroleum has 25% stake in Ravva oil field which is operated by Cairn India in Andhra Pradesh.[12]

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.[13][14] The acquisition catapulted Videocon into the No. 3 slot in the global pecking order for CPTs.

In 2005, Videocon Group took over Philips colour TV plant and took over three plants of Electrolux India. Today, it has evolved into a conglomerate with annual revenues of over US$4.8 billion.

Awards and recognition
  • According to the Brand Trust Report 2012 published by Trust Research Advisory, a brand analytics company, Videocon's was positioned 51st among India's most trusted brands. Subsequently, in Brand Trust Report 2013, Videocon was ranked 25th among the most trusted brands in India while according to the Brand Trust Report 2014, L&T was elevated to the 17th position among India's most trusted brands.[15]
  • Videocon Industries Limited has been awarded the National Energy Conservation Award for 2013 in appreciation of its continuous efforts in R&D and product up-gradation by implying new and innovative energy saving practices resulting to achievement in Energy Conservation in the category of BEE Star Labelled Appliances (Refrigerator) for strict adherence to the BEE standards set up by the Bureau of Energy Efficiency.[16]
  • Videocon won the 1st prize for best Manufacturers of BEE Star Labeled Appliances, in the refrigerator category, at the National Energy Conservation Award – 2015. Organized by the Bureau of Energy Efficiency, the award aims at giving national recognition to companies who have made significant contributions in creating awareness towards and production of energy efficient appliances.[15]

Fall of the company

Company has reported losses from last ten(10) consecutive quarters, and admitted for Insolvency Proceedings [17][18]

Controversy with ICICI loan fraud

On 4 October 2018, Chanda Kochhar, the ex MD and CEO of ICICI Bank had to step down from her position following allegations of corruption in sanctioning loans to Videocon.[19] Amidst investigations related to Videocon bad loans, she was forced by the board of ICICI Bank to take indefinite leave. The Central Bureau of Investigation named Chanda Kochhar and her husband Deepak Kochhar as beneficiaries in the financial fraud. Venugopal Dhoot, the promoter of Videocon had fraudulently transferred part of the loan received from ICICI Bank to the Kochhars' business entreprise[20] After Chanda Kochhar's, Sandeep Bakhshi became the full time Managing Director and CEO of ICICI Bank.[19][21]

See also

References
  1. "Annual report" (PDF). videocon industries. Archived (PDF) from the original on 30 August 2018. Retrieved 29 August 2018.
  2. "Financial Reports". Videocon Industries Limited. Archived from the original on 19 May 2018. Retrieved 4 June 2018.
  3. "Archived copy". Archived from the original on 5 June 2018. Retrieved 4 June 2018.CS1 maint: archived copy as title (link)
  4. "Tube Opportunist". Forbes.com. Archived from the original on 31 December 2019. Retrieved 31 December 2019.
  5. "Videocon unit takes off". 30 August 2015. Archived from the original on 9 July 2018. Retrieved 22 May 2017.
  6. Bhatt, Shephali (12 August 2015). "Independence Day Special: How Videocon changed the country's viewing experience with colour TVs". The Economic Times. Retrieved 26 January 2020.
  7. Singh, A. "Market share". Archived from the original on 3 November 2013. Retrieved 31 October 2013.
  8. "Videocon Mobile Phones, Compare/Buy Online Mobile Phones Deals India". Videoconmobiles.com. Archived from the original on 30 December 2014. Retrieved 29 July 2010.
  9. Aditya Dey. "Videocon A55HD Launched in India for Rs. 13,499". TechStake. Archived from the original on 1 July 2013. Retrieved 29 June 2013.
  10. "Videocon Mobiles Krypton3". www.videoconmobiles.com. Archived from the original on 26 November 2016. Retrieved 27 November 2016.
  11. "Videocon Krypton3 V50JG launch date". www.91mobiles.com. Archived from the original on 27 November 2016. Retrieved 27 November 2016.
  12. "Ravva Oil and Gas Field, India". Offshore Technology. Archived from the original on 5 April 2016. Retrieved 1 January 2016.
  13. "Archived copy". Archived from the original on 10 May 2017. Retrieved 31 July 2015.CS1 maint: archived copy as title (link)
  14. "Videocon FY 2006 Annual Report" (PDF). videoconworld.com. Archived from the original (PDF) on 6 March 2009. Retrieved 24 November 2008.
  15. "India's Most Trusted Brands 2014". Archived from the original on 2 May 2015.
  16. "Videocon Industries Limited Awarded By Hon'ble President Of India With The Prestigious National Energy Conservation Award For 2013". web.archive.org. 22 December 2013. Retrieved 30 January 2020.
  17. "Archived copy". Archived from the original on 19 June 2018. Retrieved 19 June 2018.CS1 maint: archived copy as title (link)
  18. "Archived copy". Archived from the original on 19 June 2018. Retrieved 7 June 2018.CS1 maint: archived copy as title (link)
  19. "Chanda Kochhar quits ICICI Bank; Sandeep Bakhshi appointed new CEO - Times of India". The Times of India. Archived from the original on 5 October 2018. Retrieved 4 October 2018.
  20. "Who is Who named by CBI in Chanda Kochhar Case". Indian Express. Archived from the original on 27 January 2019. Retrieved 27 January 2019.
  21. "Archived copy". Archived from the original on 12 June 2018. Retrieved 7 June 2018.CS1 maint: archived copy as title (link)
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