Videocon Industries Ltd has bolstered its product line with a new range of energy efficient air-conditioners, refrigerators and washing machines, while upgrading its television line-up with liquid luminous range.
The diversified company, with manufacturing facilities in India and abroad and five research and development centres located at Aurangabad, Noida, Seoul in Korea, Tokyo in Japan and Shenzhen in China, is gearing up for another round of niche products which are Internet enabled adding to the convenience of the consumer.
Akshay Dhoot, Head of Technology and Innovation, Videocon, said that this is part of the company's strategy to cater to the mass market on one side and the evolving niche market with new generation products.
Demonstrating products spanning air-conditioners with Wi-Fi connectivity facility and innovating range of washing machines and television sets, he said that these come in the backdrop of huge Rs 850 crore spend on the company's research and development, product upgradation and ramp up of manufacturing capability last year.
“As we work towards more innovative products, including adding to the line up of air-conditioners with the new rating system as mandated by the Bureau of Energy Efficiency, we continue to invest in R&D. Thus far, we have invested about Rs 500 crore and expect to take this up to Rs 850-900 crore this financial year,” Akshay Dhoot told BusinessLine .
He was in Hyderabad to be part of a Tech Show hosted by Videocon. This is part of the company's strategy to familiarise its local dealer network with new products, thereby help guide consumers in picking the right product for their requirements.
Referring to the new sleeker washing machine range, a new AC which has a capacity to cool even at 55 degree centigrade and upgraded range of liquid luminous TV sets, he said that these products are part of the company’s effort to go niche.