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Videocon Group
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<h2 id="early-years">Early years</h2> <p>In 1985, <a href="/facts/Aurangabad/UV9cqraG">Aurangabad</a> based Nandlal Madhavlal Dhoot founded and incorporated Videocon International with a goal of manufacturing 1 <a href="/facts/Lakh/FTocP0hn">lakh</a> TV sets per year. "<i>Videocon became the first company to bring colour TVs in India</i>," claims Anirudh Dhoot, the founder's grandson (<a href="/facts/Venugopal_Dhoot/HMR5S9XX">Venugopal Dhoot's</a> son) and Videocon's current director.<a class="footnote-ref" id="fnref:5" href="#fn:5"><sup>5</sup></a> </p> <h2 id="corporate-profile">Corporate profile</h2> <p>The Videocon group's core areas of business are <a href="/facts/Consumer_electronics/cJ8g9NXh">consumer electronics</a> and <a href="/facts/Home_appliance/JYKalzw6">home appliances</a>. They diversified into areas such as <a href="/facts/Direct-broadcast_satellite/UxytxnPW">DTH</a>, <a href="/facts/Electrical_power_industry/xwabxdhN">power</a> and <a href="/facts/Oil_exploration/E9ehW41n">oil exploration</a>. </p> <h3>Consumer electronics</h3> <p>In India, the group sold consumer products like <a href="/facts/Color_television/Un5dDuF7">colour televisions</a>, <a href="/facts/Washing_machine/8Nr6modd">washing machines</a>, <a href="/facts/Air_conditioners/bK2sIKQd">air conditioners</a>, <a href="/facts/Refrigerator/TGb5ozLY">refrigerators</a>, <a href="/facts/Microwave_oven/nS1B3wp2">microwave ovens</a> and many other home appliances, through a multi-brand strategy with the largest sales and service network in India. </p><p>Since the entry of Korean Chaebols and their rising popularity in the Indian market, Videocon from a stand-point of market leader has seen a slow decline to become a no. 3 player in India. The company continued to do well in the washing machine and refrigerator segment.<a class="footnote-ref" id="fnref:6" href="#fn:6"><sup>6</sup></a> </p> <h3>Mobile phones</h3> <p>In November 2009, Videocon launched its new line of mobile phones.<a class="footnote-ref" id="fnref:7" href="#fn:7"><sup>7</sup></a> Videocon has since launched a number of handsets ranging from basic colour FM phones to high-end Android devices. In February 2011, Videocon Mobile Phones launched the hitherto unknown concept of 'Zero' paise (1 <a href="/facts/Paisa/5NeXftwT">paisa</a> is the 100th unit of 1 <a href="/facts/Indian_rupee/Pxoju0ms">Indian rupee</a>) per second with bundled <a href="/facts/Subscriber_Identity_Module/NUeSqoG1">SIM</a> cards of Videocon mobile services for 7 of its handset models. In July 2015, Videocon Mobiles launched its own flagship smartphone Videocon Infinium Z51+ in India.<a class="footnote-ref" id="fnref:8" href="#fn:8"><sup>8</sup></a> On 7 June 2016, Videocon Mobile launched its new smartphone 'Videocon Cube3 V50290'<a class="footnote-ref" id="fnref:9" href="#fn:9"><sup>9</sup></a> in India.<a class="footnote-ref" id="fnref:10" href="#fn:10"><sup>10</sup></a> </p><p>Videocon Petroleum had 25% stake in <a href="/facts/Ravva_oil_field/py9j0yGf">Ravva oil field</a> which is operated by <a href="/facts/Cairn_India/Q7gz9pr7">Cairn India</a> in <a href="/facts/Andhra_Pradesh/d51Lb0kX">Andhra Pradesh</a>.<a class="footnote-ref" id="fnref:11" href="#fn:11"><sup>11</sup></a> </p> <h4>Acquisition of CPT arm of Thomson SA</h4> <p>Videocon acquired the colour picture tube (CPT) businesses from <a href="/facts/Thomson_S.A./gw0LfI7V">Thomson S.A.</a> of France having manufacturing facilities in Poland, Italy, Mexico and China along with support research and development facilities in the fiscal year 2005.<a class="footnote-ref" id="fnref:12" href="#fn:12"><sup>12</sup></a><a class="footnote-ref" id="fnref:13" href="#fn:13"><sup>13</sup></a> </p> <h2 id="decline">Decline</h2> <p>In 2018, following losses in its oil businesses, the company entered insolvency proceedings.<a class="footnote-ref" id="fnref:14" href="#fn:14"><sup>14</sup></a> </p> <h3>Controversy with ICICI loan fraud</h3> <p>On 4 October 2018, <a href="/facts/Chanda_Kochhar/SA6Fn5tD">Chanda Kochhar</a>, the ex MD and CEO of <a href="/facts/ICICI_Bank/VpXDtE6q">ICICI Bank</a> had to step down from her position following <a href="/facts/ICICI-Videocon_loan_scam/QIY8aKlH">allegations of corruption</a> in sanctioning loans to Videocon.<a class="footnote-ref" id="fnref:15" href="#fn:15"><sup>15</sup></a> Amidst investigations related to <a href="/facts/Videocon/XV4lm0Iq">Videocon</a> bad loans, she was forced by the board of <a href="/facts/ICICI_Bank/VpXDtE6q">ICICI Bank</a> to take indefinite leave. The <a href="/facts/Central_Bureau_of_Investigation/DSmBhsxm">Central Bureau of Investigation</a> named Chanda Kochhar and her husband Deepak Kochhar as beneficiaries in the financial fraud between June 2009 and October 2011. <a href="/facts/Venugopal_Dhoot/HMR5S9XX">Venugopal Dhoot</a>, the promoter of Videocon had fraudulently transferred part of the loan received from ICICI Bank to the Kochhars' business entreprise<a class="footnote-ref" id="fnref:16" href="#fn:16"><sup>16</sup></a> after Chanda Kochhar, <a href="/facts/Sandeep_Bakhshi/8eaLVwc9">Sandeep Bakhshi</a> became the full time managing director and CEO of ICICI Bank.<a class="footnote-ref" id="fnref:17" href="#fn:17"><sup>17</sup></a><a class="footnote-ref" id="fnref:18" href="#fn:18"><sup>18</sup></a> </p> <h2 id="see-also">See also</h2> <ul> <li>Technology portal</li><li>Companies portal</li></ul> <ul><li><a href="/facts/Onida_Electronics/7pjWkeIn">Onida Electronics</a></li> <li><a href="/facts/Moser_Baer/40FQCLVo">Moser Baer</a></li> <li><a href="/facts/BPL_Group/LDl7WySv">BPL Group</a></li> <li><a href="/facts/Sansui_Electric/cQzMpxtB">Sansui Electric</a></li></ul> <h2 id="external-links">External links</h2> <ul><li><a href="https://videoconindustriesltd.com/">Official website</a></li> <li>videocon d2h special offers</li></ul> <p><a href="https://www.d2h.com/recharge/recharge-details-chatbot?customerid=196534943&amount=323&packageid=0&offer">https://www.d2h.com/recharge/recharge-details-chatbot?customerid=196534943&amount=323&packageid=0&offer</a></p> <h2 id="references">References</h2> <ol> <li id="fn:1"><p>"Videocon Industries Investor Relations: Corporate Governance". Archived from the original on 5 June 2018. Retrieved 4 June 2018. <a href="http://www.videoconindustriesltd.com/" target="_blank">http://www.videoconindustriesltd.com/</a> <a href="#fnref:1" class="footnote-back-ref">↩</a></p></li> <li id="fn:2"><p>"Tube Opportunist". Forbes.com. Archived from the original on 31 December 2019. Retrieved 31 December 2019. <a href="https://forbes.com/global/2007/0108/030.html" target="_blank">https://forbes.com/global/2007/0108/030.html</a> <a href="#fnref:2" class="footnote-back-ref">↩</a></p></li> <li id="fn:3"><p>"Videocon unit takes off". 30 August 2015. Archived from the original on 9 July 2018. Retrieved 22 May 2017. <a href="https://web.archive.org/web/20180709064558/https://www.telegraphindia.com/1150830/jsp/business/story_39749.jsp" target="_blank">https://web.archive.org/web/20180709064558/https://www.telegraphindia.com/1150830/jsp/business/story_39749.jsp</a> <a href="#fnref:3" class="footnote-back-ref">↩</a></p></li> <li id="fn:4"><p>"Vedanta arm gets nod for Videocon takeover". The Indian Express. 9 June 2021. Retrieved 16 December 2021. <a href="https://indianexpress.com/article/business/companies/vedanta-arm-gets-nod-for-videocon-takeover-7350074/" target="_blank">https://indianexpress.com/article/business/companies/vedanta-arm-gets-nod-for-videocon-takeover-7350074/</a> <a href="#fnref:4" class="footnote-back-ref">↩</a></p></li> <li id="fn:5"><p>Bhatt, Shephali (12 August 2015). "Independence Day Special: How Videocon changed the country's viewing experience with colour TVs". The Economic Times. Retrieved 26 January 2020. <a href="https://economictimes.indiatimes.com/independence-day-special-how-videocon-changed-the-countrys-viewing-experience-with-colour-tvs/articleshow/48436464.cms" target="_blank">https://economictimes.indiatimes.com/independence-day-special-how-videocon-changed-the-countrys-viewing-experience-with-colour-tvs/articleshow/48436464.cms</a> <a href="#fnref:5" class="footnote-back-ref">↩</a></p></li> <li id="fn:6"><p>Singh, A. "Market share". Archived from the original on 3 November 2013. Retrieved 31 October 2013. <a href="https://web.archive.org/web/20131103040801/http://articles.economictimes.indiatimes.com/2012-08-03/news/33020190_1_anil-arora-lg-india-indian-durables" target="_blank">https://web.archive.org/web/20131103040801/http://articles.economictimes.indiatimes.com/2012-08-03/news/33020190_1_anil-arora-lg-india-indian-durables</a> <a href="#fnref:6" class="footnote-back-ref">↩</a></p></li> <li id="fn:7"><p>"Videocon Mobile Phones, Compare/Buy Online Mobile Phones Deals India". Videoconmobiles.com. Archived from the original on 30 December 2014. Retrieved 29 July 2010. <a href="https://web.archive.org/web/20141230143514/http://www.videoconmobiles.com/" target="_blank">https://web.archive.org/web/20141230143514/http://www.videoconmobiles.com/</a> <a href="#fnref:7" class="footnote-back-ref">↩</a></p></li> <li id="fn:8"><p>Aditya Dey. "Videocon A55HD Launched in India for Rs. 13,499". TechStake. Archived from the original on 1 July 2013. Retrieved 29 June 2013. <a href="http://www.techstake.org/2013/06/videocon-a55hd-launched-in-india-for-rs-13499.html" target="_blank">http://www.techstake.org/2013/06/videocon-a55hd-launched-in-india-for-rs-13499.html</a> <a href="#fnref:8" class="footnote-back-ref">↩</a></p></li> <li id="fn:9"><p>"Videocon Mobiles Krypton3". www.videoconmobiles.com. Archived from the original on 26 November 2016. Retrieved 27 November 2016. <a href="https://web.archive.org/web/20161126232719/http://www.videoconmobiles.com/krypton3" target="_blank">https://web.archive.org/web/20161126232719/http://www.videoconmobiles.com/krypton3</a> <a href="#fnref:9" class="footnote-back-ref">↩</a></p></li> <li id="fn:10"><p>"Videocon Krypton3 V50JG launch date". www.91mobiles.com. Archived from the original on 27 November 2016. Retrieved 27 November 2016. <a href="http://www.91mobiles.com/videocon-krypton3-v50jg-price-in-india" target="_blank">http://www.91mobiles.com/videocon-krypton3-v50jg-price-in-india</a> <a href="#fnref:10" class="footnote-back-ref">↩</a></p></li> <li id="fn:11"><p>"Ravva Oil and Gas Field, India". Offshore Technology. Archived from the original on 5 April 2016. Retrieved 1 January 2016. <a href="https://www.offshore-technology.com/projects/ravva-field/" target="_blank">https://www.offshore-technology.com/projects/ravva-field/</a> <a href="#fnref:11" class="footnote-back-ref">↩</a></p></li> <li id="fn:12"><p>"Videocon buys Thomson's global picture-tube biz for Rs 1,260 cr | Business Line". 28 June 2005. Archived from the original on 10 May 2017. Retrieved 31 July 2015. <a href="http://www.thehindubusinessline.com/todays-paper/videocon-buys-thomsons-global-picturetube-biz-for-rs-1260-cr/article2181698.ece" target="_blank">http://www.thehindubusinessline.com/todays-paper/videocon-buys-thomsons-global-picturetube-biz-for-rs-1260-cr/article2181698.ece</a> <a href="#fnref:12" class="footnote-back-ref">↩</a></p></li> <li id="fn:13"><p>"Videocon FY 2006 Annual Report" (PDF). videoconworld.com. Archived from the original (PDF) on 6 March 2009. Retrieved 24 November 2008. <a href="https://web.archive.org/web/20090306063122/http://www.videoconworld.com/global/pdf-docs/investor-relations/financial-info/annual-reports/vinl/VINL-Annual%20Report-FY2006.pdf" target="_blank">https://web.archive.org/web/20090306063122/http://www.videoconworld.com/global/pdf-docs/investor-relations/financial-info/annual-reports/vinl/VINL-Annual%20Report-FY2006.pdf</a> <a href="#fnref:13" class="footnote-back-ref">↩</a></p></li> <li id="fn:14"><p>"Videocon Insolvency: Videocon Industries Admitted Under Insolvency and Bankruptcy Code - Bloomberg Quint". 6 June 2018. Archived from the original on 19 June 2018. Retrieved 7 June 2018. <a href="https://www.bloombergquint.com/insolvency/2018/06/06/videocon-industries-admitted-under-insolvency-and-bankruptcy-code" target="_blank">https://www.bloombergquint.com/insolvency/2018/06/06/videocon-industries-admitted-under-insolvency-and-bankruptcy-code</a> <a href="#fnref:14" class="footnote-back-ref">↩</a></p></li> <li id="fn:15"><p>"Chanda Kochhar quits ICICI Bank; Sandeep Bakhshi appointed new CEO - Times of India". The Times of India. Archived from the original on 5 October 2018. Retrieved 4 October 2018. <a href="https://timesofindia.indiatimes.com/business/india-business/chanda-kochhar-quits-icici-bank-sandeep-bakhshi-appointed-as-md-and-ceo/articleshow/66068380.cms" target="_blank">https://timesofindia.indiatimes.com/business/india-business/chanda-kochhar-quits-icici-bank-sandeep-bakhshi-appointed-as-md-and-ceo/articleshow/66068380.cms</a> <a href="#fnref:15" class="footnote-back-ref">↩</a></p></li> <li id="fn:16"><p>"Who is Who named by CBI in Chanda Kochhar Case". Indian Express. Archived from the original on 27 January 2019. Retrieved 27 January 2019. <a href="https://indianexpress.com/article/india/whos-who-named-by-cbi-and-their-role-in-the-chanda-kochhar-case-5556581/" target="_blank">https://indianexpress.com/article/india/whos-who-named-by-cbi-and-their-role-in-the-chanda-kochhar-case-5556581/</a> <a href="#fnref:16" class="footnote-back-ref">↩</a></p></li> <li id="fn:17"><p>"Chanda Kochhar quits ICICI Bank; Sandeep Bakhshi appointed new CEO - Times of India". The Times of India. Archived from the original on 5 October 2018. Retrieved 4 October 2018. <a href="https://timesofindia.indiatimes.com/business/india-business/chanda-kochhar-quits-icici-bank-sandeep-bakhshi-appointed-as-md-and-ceo/articleshow/66068380.cms" target="_blank">https://timesofindia.indiatimes.com/business/india-business/chanda-kochhar-quits-icici-bank-sandeep-bakhshi-appointed-as-md-and-ceo/articleshow/66068380.cms</a> <a href="#fnref:17" class="footnote-back-ref">↩</a></p></li> <li id="fn:18"><p>"ICICI-Videocon loan controversy: Companies involved come under ministry of corporate affairs' scanner - Firstpost". 7 June 2018. Archived from the original on 12 June 2018. Retrieved 7 June 2018. <a href="https://www.firstpost.com/business/icici-videocon-loan-controversy-companies-involved-come-under-ministry-of-corporate-affairs-scanner-4500617.html" target="_blank">https://www.firstpost.com/business/icici-videocon-loan-controversy-companies-involved-come-under-ministry-of-corporate-affairs-scanner-4500617.html</a> <a href="#fnref:18" class="footnote-back-ref">↩</a></p></li> </ol>