Skyworth will install 4 m of TV capacity in Hyderabad
Hyderabad: the largest Chinese consumer electronics of $ 5 billion Skyworth Group, which is investing $ 100 million in the installation of a new 50-acre manufacturing plant in Hyderabad, plans to establish a TV manufacturing capacity of 4 million units per year over the next three years, a senior official said Tuesday of the company. .
“Over the next three years we plan to invest $ 100 million. In the first phase we will manufacture TVs and will go on to add washing machines in the second phase, followed by air conditioners and refrigerators in the third phase, ”Criver Liu, managing director, Skyworth India, said, without elaborating on the specific capacities for each of these product categories.
According to Liu, the company plans to sell 2 million TV sets in 2020 across brands like Metz, Skyworth and Coocaa, a purely internet TV brand, in the Indian market after having sold 4.82 lakh units so far in India that were made at its manufacturing facility under the name Radiant Appliances&Electronics Pvt Ltd set up in a majority joint venture with a local partner Skyquad Electronics.
The Skyworth India MD said that the new plant, which is coming up at E-City in Raviryal, Maheshwaram, near Shamshabad airport, will generate 5,000 jobs once it hits full capacity.
It was only in November end that Skyworth Group chairman Lai Weide had inked an MoU with the Telangana government for the facility.
“Besides bringing high quality manufacturing skills, economies of scale through very efficient supply chain, Skyworth will be bringing futuristic products to Indian consumers and will also upgrade the skills of locals,” Weide had said then.