Homegrown diversified firm Videocon is aiming at an annual turnover of $4 billion (around Rs26,000 crore) in the next four years from consumer electronics division on the back of product launches and exports growth.
The company, which is expecting a turnover of Rs15,000 crore from the vertical this year, is expanding the range of automatic washing machine and frost free refrigerators in the country, which is dominated by MNCs such as lG and Samsung.
“In three to four years, our plan is to have a turnover of $4 billion from consumer electronics business,” Videocon Chief Operating officer C M Singh told the news agency.
In order to achieve the target, he said the company will focus on segments like automatic washing machine and frost free refrigerators where it is not present in a big way.
At present, 55 per cent of Videocon’s revenue in consumer electronics comes from home appliances and the rest from TV panels and CRTVs. Now the company has added products such as 4K TV and HD lED TV under liquid luminous range to attract the niche set of consumers.