Videotex to invest Rs 100 cr into a new TV manufacturing facility, eyes exports from India

Home-grown consumer electronics brand Videotex is investing Rs 100 crore in a state-of-art manufacturing plant in Greater Noida with a capacity to manufacture 1.8 million TVs per year. A contract manufacturer of smart TVs for Lloyd, Realmi, Toshiba, Hyundai, BPL, Daiwa, and more than 15 leading Global and Domestic brands, Videotex -  with this new facility - is eyeing export from India. The company’s current capacity, which is also in Greater Noida, is over 1.4 million TVs per annum.

"Our facility will be spread over an area of 1,40,000 sq ft and will have automated processes & functions. The investment shall enable us to strengthen our 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," says Arjun Bajaj, Director of Videotex International.

Videotex claims to have experienced strong industry growth over the past two years, resulting in a 48 per cent increase in revenue, and expects 20-25 per cent YoY growth over the next three years on the back of the growing demand for Smart TVs in India. The company aims to achieve Rs 500 crore revenue by the end of the fiscal year. 

This comes on the back of its upcoming manufacturing facility in Greater Noida, which shall be operational within this year, further supported by R&D, new smart TV solutions, highly optimised and advanced production lines, and strategic partnerships. Additionally, Videotex will upgrade its existing manufacturing facility with fully automated, AI-enabled manufacturing lines, readying it for Industry 4.0 needs.

"Being one of the oldest players in this industry, we have captured over 50 per cent market share in smart TV ODM space among the contract manufacturers in India. We will invest more in our backward integration and R&D to localise our sourcing and promote the vocal for local initiatives. With the vision of the Indian govt. towards Indian manufacturers, we are also foreseeing great opportunities in exports too, and it's one of the reasons behind investing more in the manufacturing capacity,” adds Bajaj. The company is looking to expand into the export market, initially targeting neighbouring countries, the Middle East, and Africa.