Multimedia and consumer electronic company Thomson, which left the Indian market in 2004, is returning to the market through its LED TV subsidiary, according to Indian media The Financial Express.
Thomson is a subsidiary under the French media technology group Technicolor, which has signed an five-year exclusive license agreement with Hyberadad-based Resolute Electronics in India. Resolute Electronics holds exclusive brand license for manufacturing Thomson’s products in India.
Resolute Electronics will be spending INR 3 billion (US $46.95 million) to expand manufacturing facility over the next three years, and another INR 500 million on marketing Thomson products, The Hindu quoted Gopal Krishna, CEO of Resolute Electronics saying. Investments in the new facilities is expected to create 500 new jobs.
Investments in the new facility will mostly be used to expand production capacity of LED TVs and set up manufacturing for large home appliances, including refrigerators, washing machines and ACs.
The size of the Indian consumer market is an estimated US $12.5 billion per annum with a growth of 10%, and poised to becoming one of the top five markets in the world, said Manuele Wahl, Senior Vice-President, Technicolor. “We are happy to re-launch the Thomson brand to Indian consumers.”
First batch of LED TVs will be released by the end of this month.
Resolute Electronics is an electronic manufacturing services company that has been providing services to electronic manufacturing of global OEMs.
Thomson has set its eyes also on entering new market sectors including healthcare products and Internet of Things (IoT).
