Comments
Set-to-box maker MyBox Technologies, in which Hero Electronix acquired a majority stake last year, is looking to tap into international markets.
“We have seen nearly ten times growth in revenues in fiscal 2016, with the current turnover of about ₹300 crore. With the ongoing digitisation, we hope to double the revenues in this financial year,” said Ujjwal Munjal, Founder-Director, Hero Electronix.
“As markets across the globe are moving towards digitisation, we are gearing up to tap into the potential offered by international markets and compete globally. We see potential in markets such as Latin America and Africa,” he added
The company designs and develops the STBs on its own, while the manufacturing is done by its vendor partners. While the cable and DTH industry still largely depends on imports for sourcing STBs, MyBox Technologies believes it is offering the “Made in India” edge to these companies with seamless services.
“We have about three partners currently who manufacture for us. We want to strengthen our presence across the country and we are adding a couple of more such partners,” he added.
The company made about 1.5 million STBs last year, which it hopes to double to about three million STBs in this financial year.
Overall, Hero Electronix and its subsidiaries will invest ₹1,000-₹1,200 crore in the next 5-7 years. A portion of these investments will be going in expansion of MyBox Technologies. Munjal did not comment on specifics. Hero Electronix last week also acquired a strategic stake in Tessolve Semi-conductors.
MyBox Technologies also believes that HD will drive its growth in the future, at the same time, the company is already working on next generation products such as hybrid STBs.
Amiet Kharbanda, MD, MyBox Technologies, added that the demand has been high for Standard Definition boxes during the various digitisation phases as cable and DTH players are focusing on acquisition of customers.
“With the growing number of channels being launched in HD, we believe HD STBs will become a huge growth driver. At the same time, our engineering teams are already working on designing futuristic products like hybrid STBs,” he said.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.