Videocon Essay
Company Profile – Videocon
Videocon industries limited is a global conglomerate founded in 1979 headed by Venugopal Dhoot. It is headquartered in Gurgaon, Haryana. It has 17 manufacturing sites in India and plants across the globe including China, Mexico, Poland and Italy. It is a US $5 billion global conglomerate. Its subsidiaries include Videocon Telecom, Videocon D2H, Videocon Consumer and Videocon Electronics and Home Appliances.
Vision and Mission
At Videocon, all the efforts are centered on the following:
• Ingenious Strategy
• Intrepid Entrepreneurship
• Improved Technology
• Innovative Products
• Insightful Marketing
• Inspired Thinking
Company History
Videocon Industries Limited incorporated in 1979 has grown to become India’s largest
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The consumer electronics segment include products such as televisions, video and home entertainment products whereas the household appliances segment include refrigerators, , air conditioners, washing machines ,microwave ovens, vacuum cleaners and appliances such as irons, heaters, mixers, fans, water purifiers, etc. The company had capacities to globally manufacture 22 million units of colour picture tubes, 5.6 million TV sets, 2.5 million refrigerators, 1 million washing machines, and 400000 air-conditioners annually, making it one of the largest in the world.
Videocon also ventured into exploration and production of crude oil in the form of a consortium. It set-up India’s largest privately owned crude -oil extraction venture with Cairn Energy of UK on the Krishna-Godavari basin off the coast of Andhra Pradesh. It had reserves of over 250 million barrels, producing 50,000 barrels of oil per day. Out of the private sector crude oil production in India, about 7 percent was produced by the
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On 29th June, 2005 Videocon struck a deal to acquire the Thomson colour picture tube (CPT). With this deal, Videocon acquired global CPT manufacturing capacity of 19 million units per year putting it in the league of global market leaders like LG-Philips and Samsung. This acquisition was made at a strategic point in time when cathode ray tube technology was at a decline and most players were withdrawing from the business.
Products and Services
Videocon is spread across different sectors and businesses. The Videocon group's core areas of business include consumer electronics and home appliances. They have recently diversified into areas such as DTH, oil exploration, power and telecommunication. A comprehensive list of products and services is as follows:
• Consumer Electronics and Home Appliances
• Mobile Handsets
• Mobile Services
• DTH Services
• Oil and
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