Dixon plans LCD TV unit in Tamil NaduFebruary 2nd, 2009 - 9:01 pm ICT by IANS
Chennai, Feb 2 (IANS) The Rs.6-billion turnover Dixon Technologies, which owns the consumer durable brand Weston, will set up a Rs.200-million (Rs.20-crore) unit to manufacture liquid crystal display (LCD) television sets at Oragadam near here. “The 200,000 units per annum plant will service the southern markets while the company’s other LCD TV plant at Uttarakhand (annual capacity 100,000 units) will serve the remaining markets,” Dixon managing director Sunil Vachini told IANS from Gwalior.
The Oragadam plant is expected to start commercial production in five months.
“We will start making the 19-inch LCD TVs, these will be sold at Rs.10,000. There will be other models as well,” added Sunil Sethi, the marketing vice president.
According to him, the market size of LCD TVs was just below three million units per annum here.
“The economic slowdown has affected sales of top-end products and it is mainly confined to the metros. The market for TVs in rural areas - our focus - is not witnessing any slowdown,” Sethi said.
During the first three quarters of the current fiscal, the company’s colour television and DVD sales went up 14 percent as compared to the same period last year.
Contract manufacturing for electronic goods majors like LG, Philips and Videocon accounts for nearly 80 percent of Dixon’s revenues, the balance from its own brand.
Dixon hopes to close this fiscal with a turnover of Rs.8 billion (Rs.800 crore).
In June last year, the Motilal Oswal-managed India Business Excellence Fund invested Rs.400 million (Rs.40 crore) in Dixon to expand its existing production facilities.
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