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Telefunken enters Indian TV market in partnership with Videotex International

Business Finance

Press Trust of India  |  New Delhi 

German consumer electronics brand Telefunken has entered the Indian TV market in partnership with Videotex International, an original equipment manufacturing player in the television LED segment.

Telefunken has introduced seven stock keeping units (SKUs), which include both smart TVs and non-smart range of LED TVs, in association with e-commerce player Amazon, said a statement.

Commenting on the development Videotex International Director Arjun Bajaj said: "Videotex is excited to bring Telefunken, the German legacy of over 115 years to India. Our goal is to bring superior technology to the Indian consumers and we aim to acquire 5 per cent market share."

The products are designed for India at competitive price points, it added.

Telefunken TVs will be manufactured at the Videotex Greater Noida plant which has the capacity to manufacture one million TV sets per year.

"Videotex plans to further invest Rs 50 crore to boost its manufacturing capacity for Telefunken," it added.

Telefunken is brought in India by Japan-based Toyoichi Tsusho Co, which in May had acquired the right to use the brand.

Earlier, this month Frankfurt-based Telefunken Licenses GmbH, which owns the trademark rights of the company, had announced to enter India with a local partner.

The India TV market is estimated to be around Rs 22,000 crore and is dominated by top three makers - Samsung, LG and Sony.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Mon, September 16 2019. 20:00 IST