Videocon Group


Videocon Industries Limited is a large diversified Indian company headquartered in Mumbai. The group has 17 manufacturing sites in India and plants in Mainland China, Poland, Italy and Mexico. It is the third largest picture tube manufacturer in the world. The group is a US$5.5 billion global conglomerate. Videocon has various brands under its portfolio.
In India, the group sells consumer products like colour televisions, washing machines, air conditioners, refrigerators, microwave ovens and many other home appliances, through a multi-brand strategy with the largest sales and service network in India.
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 continues to do well in the washing machine and refrigerator segment.
Videocon acquired the colour picture tube (CPT) businesses from Thomson S.A. of France having manufacturing facilities in Poland, Italy, Mexico and China along with support research and development facilities in the fiscal year 2005. The acquisition catapulted Videocon into the No. 3 slot in the global pecking order for CPTs.
In 2005, Videocon Group took over Philips color TV plant and took over three plants of Electrolux India. Today, it has evolved into a conglomerate with annual revenues of over US$4.8 billion.
On 4th October 2018, Chanda Kochhar, the ex MD and CEO of ICICI Bank had to step down from her position following allegations of corruption in sanctioning loans to Videocon. Amidst investigations related to Videocon bad loans, she was forced by the board of ICICI Bank to take indefinite leave. The Central Bureau of Investigation named Chanda Kochhar and her husband Deepak Kochhar as beneficiaries in the financial fraud. Venugopal Dhoot, the promotor of Videocon had fraudulently transferred part of the loan received from ICICI Bank to the Kochhars' business entreprise After Chanda Kochhar's, Sandeep Bakhshi became the full time Managing Director and CEO of ICICI Bank.