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Leading Indian consumer electronics firm Videocon has launched its brand in the UK and unveiled its initial line-up of LCD TVs. The company intends to produce high quality mid-range products at affordable prices.
Mr Abhishek Malpani, country head for Videocon in the UK explained: "With this positioning we are confident enough to register a strong presence in the UK market. We are able to provide products to consumers looking for value-for-money quality products for the UK consumer. We have targeted a market share of 3% [in volume] by 2010".
The LCD TV line-up will be available in August, says Videocon, while the brand intends to launch additional products, including a Blu-ray player, by the end of the year. Videocon also has plans to introduce mobile phone handsets in 2010 followed by white goods, including fridges, washing machines and air conditioning units, in 2011.
Nick Simon, account director at GfK argues that despite the current economic conditions, Videocon has a good chance of prospering in the LCD market. He commented: "The size of the UK flat panel TV market is around 8.7 million and it is growing by around 18% per annum. There is a vacuum in this segment of the market that shows clear opportunities for new global players".
Videocon was established in 1979 and has 23 factories worldwide along with more than 30,000 employees.
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