Hong Kong-based Skyworth Group, which plans to invest $100 million on a manufacturing facility in Hyderabad, is upbeat on the growth prospects in the Indian television market.
“For 2020, our plan is to sell 2 million TV units,” Skyworth India Electronics Managing Director Criver Liu said at a media interaction here on Tuesday.
Television sales by the company, under the Skyworth, Metz and Coocaa brands, were 4.82 lakh units this year as against about 2.5 lakh in 2018.
Capacity expansion
On plans to increase the manufacturing capacity in India, he said Skyworth had been making and marketing products in association with a local partner and would invest $100 million over the next three to five years in expanding the Hyderabad facility located near the international airport here.
The company, on completion of the expansion programme, would have a capacity to make four million TV units in Hyderabad and also manufacture more products, including washing machines, refrigerators and air-conditioners.
Besides manufacturing under its brand, Skyworth is also a third party manufacturer, he said, without sharing details regarding the existing manufacturing capacity and on the stake in the joint venture. To queries, he said the aim was to generate employment for more than 5,000 people in Hyderabad, over time.
He added that washing machines would be the next product line that the company would launch in India next year.
