Technicolour major Thomson has found its way back into Indian electronic market after signing a licensing deal with Resolute Electronics in Hyderabad.
According to the agreement, Resolute will invest Rs 300 crore in the next 3 years, to increase its existing production capacity to make 2000 television sets a day and set up a facility to manufacture large home appliances such as refrigerators, washing machines and air conditioners.
The company has an exclusive tie with Thomson, for LED TVs, as per A. Gopal Krishna, CEO of Resolute. He said the company hopes to being with the launch of Thomson LED TVs by the end of the month or the beginning of the next. To go national, the company has tied up with e-commerce website Flipkart, where it would make the television sets available first. Krishna said the immediate goal is to get 1 per cent market share in the Indian market that sells 11 million sets in a year. The products would be priced at 10 to 12 per cent lower than the market lead.
Resolute has already invested Rs 20 crore in the existing production facility. And the deal is a comeback for Thomson into the Indian television market. It was present in the country till 2004 through a subsidiary route.
