Videocon's Reinventing Strategies: Can it sustain the Replication of LG’s Success?
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Code : COM0264
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Region : India
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About Videocon Videocon was established in 1987 by Nandlal Madhavlal Dhoot. At that time, it used to manufacture TVs and washing machines. Videocon had a monopoly in washing machines in the 1990s. The Videocon Group later diversified into oil & gas, power and petroleum, Color Picture Tubes (CPT), glass, telecom operations, and consumer electronics. In 1989-90, Videocon started manufacturing home entertainment systems, electric motors, and air conditioners. It entered the refrigerators and coolers segment in 1991... Videocon Under Kim's Leadership With the aim of regaining the market share it had lost and focusing on growth, Videocon appointed, Kim, former managing director of LG Electronics India Pvt. Ltd. (LG), as the vice-chairman and CEO of the company in 2008. To bring Videocon back to its former glory was an uphill task for Kim. Analysts were skeptical about Kim’s ability to adjust to a family-owned business setting, especially one which was not known for being too professionally driven. But undaunted, Kim recruited his team members. A number of ex-LG people had already joined him at Videocon ... Kim's Exit and After In October 2010, Kim announced that he would exit the company in April 2011 as his contract was over. After the announcement, Videocon's steering wheel was handed over to a re-organization committee that was set up in November 2010. The committee consisted of Videocon’s independent directors, Satya Pal Talwar and S. Padmanabhan, and chief managing director and Videocon Group Chairman, Venugopal Dhoot... |
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