Videocon Industries Limited is a large diversified Indian company headquartered in MumbaiIndia. 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. The group is a 5.5 billion global conglomerate. Videocon has various brands under its portfolio.
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 Videocon's current director.
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.
Mobile phones
In November 2009, Videocon launched its new line of mobile phones. 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 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. On 7 June 2016, Videocon Mobile launched its new smartphone 'Videocon Cube3 V50290' in India. It includes features like 12.7 cm 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.
Videocon acquired the colour picture tube 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. 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.
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 for strict adherence to the BEE standards set up by the Bureau of Energy Efficiency.
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.]
Fall of the company
Company has reported losses from last ten consecutive quarters, and admitted for Insolvency Proceedings
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. 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 After Chanda Kochhar's, Sandeep Bakhshi became the full time Managing Director and CEO of ICICI Bank.
