Videocon Group
Videocon Industries Limited was an Indian multinational conglomerate, headquartered in Mumbai. The company was founded in 1979, by Venugopal Dhoot. The group had 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 valued at 5.5 billion.
The company stopped trading and entered corporate insolvency proceeding in June 2018. In June 2021, NCLT approved Vedanta Group's bid to take over Videocon, paving the way for the new ownership.
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.Corporate profile
The Videocon group's core areas of business are consumer electronics and home appliances. They diversified into areas such as DTH, power and oil exploration.Consumer electronics
In India, the group sold 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 continued 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.Videocon Petroleum had 25% stake in Ravva oil field which is operated by Cairn India in Andhra Pradesh.