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Under former LG honcho KR Kim, Videocon eyeing 20 pc growth per annum

Under former LG honcho KR Kim, Videocon eyeing 20 pc growth per annum

Author | Puneet Bedi Bahri | Friday, May 30,2008 8:25 AM

Under former LG honcho KR Kim, Videocon eyeing 20 pc growth per annum

KR Kim, the newly-appointed Vice-Chairman and CEO of Videocon Industries, is bullish about the company’s growth. In the process of consolidating the Videocon portfolio, Kim intends to lay the foundation by stressing on ‘good sound’, which he explains by saying, “I am focusing on R&D to insure good quality, technology and product development for Videocon to reach new heights.”

In exclusive conversation with exchange4media, Kim disclosed, “We are looking at rebranding Videocon after one year. But that will happen only once we have decided on which brands we are retaining. We are looking at getting rid of some of the brands, but the decision will be taken only after closely monitoring their performance over the next one year.”

Talking about the marketing and advertising strategies, Kim said, “Our main focus is on practical marketing, emphasising on reliability and affordability of the brand.”

Looking at a growth of 20 per cent every year, Videocon is aggressively working to launch GSM mobile phones by the end of this year. “As India market is the biggest market for mobile phones, Videocon is launching mobile phones, which will be outsourced from Taiwan and China. We are launching mobiles for the economy class,” Kim revealed.

Apart from the Indian market, Videocon is planning to build brands for the international market as well. “Videocon currently has a negligible presence in the international market. We are expecting to draw Rs 4,000 crore business from our overseas market over the next five years by opening sales offices in the Middle East, Africa and Latin America. We will be also put up manufacturing plants if the need arises,” Kim further said.

Videocon is simultaneously undergoing restructuring, especially on the sales, marketing and innovation front. The company is all geared up to fight its closest competitors such as LG, Samsung, Godrej and Onida.

Tags: e4m

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