The future is big and smart: How TVs are transforming our homes and workspaces

In today's rapidly evolving technological landscape, the electronics sector is at the forefront of innovation. Advancements in AI technology are poised to revolutionize content recommendations, elevating the overall consumer experience through increased automation and personalization. At the helm of this exciting transformation is Arjun Bajaj, Director of Videotex International, a leading player in the Indian LED TV manufacturing sector. In an exclusive interview with Bizz Buzz, Bajaj sheds light on the market and consumer trends that are shaping the future of electronics, Videotex International's unique offerings, and the company's vision for the coming year

What market and consumer trends are you noticing that will influence the electronics sector in the following year?

The Covid-19 pandemic has cast a spotlight on a notable shift in consumer behaviour, revealing that the smaller screens of mobile phones are no longer adequate to fulfil consumers' entertainment needs. Consequently, there has been a considerable surge in demand for televisions. Furthermore, the increased affordability of electronic products among consumers has expanded the purchasing power of the market.

Another discernible trend is the growing preference for larger TV sizes, with 43 and 55-inch screens gaining substantial traction. This marks a departure from the previous market emphasis on 32-inch models and signals a pronounced inclination toward immersive viewing experiences. This shift underscores the evolving dynamics of the electronics sector, driven by the continuous evolution of consumer preferences.

Anticipated advancements in AI technology are set to revolutionize content recommendations, elevating the overall consumer experience through increased automation and personalization. Simultaneously, the role of smart TVs is expanding, transitioning from a leisure-oriented device to a necessity in both household and office settings. These intelligent TVs now feature capabilities such as webcam support for virtual meetings, virtual trainers for fitness sessions, and the ability to serve as a remote PC, rendering them indispensable tools for various aspects of our daily lives.

What is your approach to understanding and meeting a client's specific OEM/ODM requirements? How do you ensure clear communication and effective collaboration throughout the process?

As the leading OEM/ODM provider in India, we have earned the trust of our customers by meeting their demands with utmost dedication. Our solutions are tailored to the specific needs of the Indian market, and we pride ourselves on being highly compatible with the region. Our approach is centered around prioritizing flexibility, enabling us to accommodate customizations and adjustments tailored to each client's evolving needs. This approach ensures that we remain responsive to the dynamic requirements of our clients, thus fostering strong and lasting partnerships.

To stay at the forefront of technology, we draw upon our extensive experience, valuable customer insights, and comprehensive market research. By doing so, we are not only able to provide our partners with the best solutions but also ensure that they remain well-informed and positioned for success in the dynamic Indian market.

Furthermore, our unwavering commitment to quality assurance, cost-effectiveness, and the punctual delivery of products serves as the bedrock of our client relationships. This commitment not only meets but consistently exceeds our clients' expectations, reinforcing trust and satisfaction throughout the collaborative process.

How do you stay updated with the latest manufacturing technologies and industry trends? Can you provide examples of how you have implemented innovative solutions in your manufacturing processes?

To remain at the forefront of manufacturing technologies and industry trends, we employ a multifaceted approach. This involves gaining a deep understanding of consumer needs, conducting thorough analyses of global markets, nurturing strong relationships with both suppliers and customers, and harnessing the power of automated tools. For instance, we have integrated AI-driven monitoring into our production processes, which has led to notable improvements in both efficiency and product quality. Our commitment to ongoing innovation and automation not only keeps us ahead of the competition but also ensures that our manufacturing procedures are consistently aligned with the most recent advancements in the industry.

Please shed some light on Videotex international, its offerings and business outlook for the fiscal year.

Videotex is a prominent ODM player in the Indian LED TV manufacturing sector, boasting a rich legacy of over 39 years in the industry. The company specializes in the production of webOS TVs, which are premium smart TV solutions developed by LG, catering to several leading brands in India. These brands include Lloyd, BPL, Reconnect, Infinix, Vise, Hyundai, Akai, Daiwa, NU, and VW and many more. Moreover, Videotex manufactures TVs for various other renowned brands like Realme, Toshiba, Hisense, and more. Notably, Videotex achieved the distinction of becoming the first Indian company to be designated as a webOS Hub Original Design Manufacturer (ODM) in 2021. In a significant development, by the end of 2022, with the introduction of webOS Hub 2.0, Videotex has elevated its status to become the strategic ODM partner for webOS Hub.

Seeing the demand, it is difficult to meet timely delivery of orders and manage production schedules, how do you ensure the same? What's the production capacity and average lead times for Videotex?

As we navigate the festive season, during which all brands are stocking up to meet higher demands, our focus has shifted towards efficient inventory management. Leveraging our nearly four decades of industry experience, we have cultivated robust relationships with our suppliers, enabling us to engage in proactive collaborations aimed at streamlining our supply chain. This collaborative effort ensures the punctual availability of essential raw materials, contributing to timely production.

In terms of production capacity, Videotex currently operates with a capacity of manufacturing 1.4 million TVs annually within our existing facility. This significant capability has allowed us to secure nearly 50 per cent of the market share in the smart TV Original Design Manufacturer (ODM) sector among contract manufacturers in India.

Furthermore, we are in the process of expanding our operations by establishing a new manufacturing unit, which is poised to produce an additional 1.8 million TVs per year. Consequently, our total production capacity will reach an impressive 3.2 million TVs annually.