By BizLED Bureau
Dec 28, 2015: Salora International plans to set up a manufacturing line at its existing factory for production of LED TVs at Noida, Uttar Pradesh, India. In July 2015, Salora International had approved the proposal to set-up a manufacturing line for commercial production of mobile phones at its factory premises at Noida.
Salora International said in a Bombay Stock Exchange (BSE) filing: “With reference to the earlier announcement on July 2, 2015, the company has started commercial production of mobile phone at its factory premises… The company is also going to set up a new production line for LED TVs”. Products portfolio of this Delhi-based firm includes TV, smartphone, tablets, multimedia speakers, 3G data cards and melamine and glassware products. Initially, the unit will manufacture televisions of up to 80 cms (32 inches).
The domestic market of LED TV in India has been growing at the rate of 30% annually. Out of this market, Salora International intends to capture 5% share in the coming years. Salora strengthens its manufacturing footprints with the current production capacity with expansion plans set to achieve a target capacity of 3,00,000 units per year.
Gopal Jiwarajka, MD and CEO of Salora International, said: ?The move to set up a new manufacturing unit of LED televisions is in synergy with our focus of expanding the range of LED televisions in the Indian market. The demand for LED televisions is growing and this gives us another opportunity to expand our product portfolio and strength in Indian home entertainment market.?
Currently, Salora International manufactures a wide range of CRT TVs and multimedia speaker systems, and cater to domestic as well as export markets.
Photo Credit: PTI