China-Singapore JV to enter home electronics market

Shinco, a $1 billion China-based OEM for consumer electronics products, is entering the Indian market with its own brands. The company will initially focus on the high-end of the market with products such as LCD televisions and personal DVD players.

Shinco has entered into a pact with FTD (Future Techno Designs), a Singapore-based product design and development firm to market its products in India.

Shinco is a significant supplier of consumer electronics products to companies such as Toshiba and Sony and is now promoting its products in international markets and is looking at India as a major market for growth. FTD is a $20 million firm and has been present in India for the past eight years with a development unit in Bangalore.

The new entity called FTD Shinco Consumer Products will initially be involved in the sales, marketing and support of Shinco's products in India. Subsequently other value added activities, including assembling and manufacturing, will also be carried out by FTD Shinco.

N Ramakrishnan, president, FTD India aid: "India is one of the fastest growing consumer electronics and equipment markets in the world. To start with, we plan to establish our footprint in the metros and major cities across the country and carve out a niche in the high end digital consumer electronics products segment. We also plan to do design, localisation and manufacturing in India at a later date."

A slew of wide-screen multi-media LCD TVs and home DVDs are being launched by FTD Shinco at price points starting from Rs 60,000.

"Subsequently, other products such as GPS navigation systems, automotive electronics equipment and personal digital entertainment systems will be added to its portfolio of products," he noted. It is targetting a turnover of around Rs 60 crore.