"The company is weighing the option of floating subsidiaries for the international operations and creating a new global brand," K R Kim, vice-chairman and chief executive of Videocon (global operations), told Business Standard.
Kim recently took over after a successful stint in establishing South Korean chaebol LG in India.
"Videocon earns about $300 million through international operations with some presence in Europe. In contrast, LG earns about 70 per cent of its revenues from international markets. Keeping this in mind, we will add capacity through organic and inorganic expansion," said Kim.
The foray is expected to materialise in six months, said Kim.Videocon already has an acquired brands like Nordmende in the European markets. It is likely to introduce the international brand as a premium label in India.
The company also contract-manufactures for multiple brands like Electrolux, Kelvinator, Sansui, Akai and Hundai, apart from owning the flagship brand Videocon.
Kim now plans a performance review of Videocon's basket of brands and some "will disappear" he said.
Videcon also aims to make 1 million mobile devices over the next three years. "Initially, we will outsource handset production and then explore manufacturing possibilities in India a year later. The handsets will be retailed in the overseas markets as well," Kim said.
Videocon will start rolling out its telecom network under the subsidiary Datacom from mid-August and aims for a 10 per cent market share in five years. It has received a licence to operate services in three circles and has been allotted spectrum, the radio frequencies that enable wireless communications.
