You'll soon be able to buy Philips TVs in India
Chinese firm Shenzhen Skyworth Digital Technology Co is teaming up with Indian television manufacturer Super Plastronics to bring Philips TVs back to India next month. The joint venture (JV) will be dedicated to product development, technology transfer, sales and marketing. Skyworth will own 40% stake in the JV while the rest 60% will be with Super Plastronics.
Super Plastronics to manufacture Philips TVs in new UP plant
Super Plastronics, which has a turnover of ₹1,000 crore, already owns licenses for popular electronic brands like Kodak, Thomson, Blaupunkt and Westinghouse. The company will manufacture the new range of Philips televisions at a newly set up facility in Hapur, Uttar Pradesh. The plant is expected to be operational in the next two months.
Skyworth's strategic move amid increased regulatory action
Skyworth has decided against independently marketing Philips TVs in India amid increased regulatory scrutiny on Chinese companies. It has instead chosen to partner with Super Plastronics, where it holds a minority stake.
Skyworth to invest in production molds, designs at new plant
Along with its minority stake, Skyworth also plans to invest in production molds, designs and other lines at the new Hapur plant. This, as the company said, would help integrate its technology into the facility. Until the new plant is fully operational, Super Plastronics will manufacture the televisions at one of its existing facilities.
