Videotex aims to achieve 500 crores in revenue by March 2024
Videotex, India's most trusted ODM and OEM for LED TVs for the last four decades, aims to achieve the next milestone of 500 crore revenue by the end of the fiscal year. This comes in response to its upcoming manufacturing facility in Noida, which shall be operational within this year, further supported by robust R&D, new smart TV solutions, highly optimised & 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.Videotex experienced strong industry growth over the past two years, resulting in a notable 48% increase in revenue. 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 "Make in India" initiative by the Govt of India.
Videotex currently has been manufacturing smart TVs for Lloyd, Realmi, Toshiba, Hyundai, BPL, Vise, Daiwa and more than 15 leading Global and Domestic brands. The Company is amongst 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. The success of Videotex is all credited to our strong design capabilities, software licenses and greater flexibility in designing products. We have a history of successfully introducing new technologies to the market. 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." stated Mr. Arjun Bajaj, Director of Videotex International.
With the new plant, Videotex is also looking to expand into the export market, initially targeting neighbouring countries, the Middle East, and Africa.
With Videotex investing 100cr into the 1,40,000 sq ft new manufacturing facility to heavily automate the processes & functions, the Company shall become the most sought-after Indian TV ODM manufacturer. The investment shall 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
Leave A Comment