Videocon seals a five-year pact with Philips

Videocon has bagged a five years licensing deal from Philips and will make and sell television sets under the brand name Philips.

Philips India CEO Murali Sivaraman said that the television sets will be manufactured by Videocon itself, according to the specifications and standards maintained by Philips globally.

The company expects that with the help of large sales and distribution network of Videocon across the country it will increase the presence of television sets in the country significantly.

Philips, which is operating in India for more than 80 years, has earlier said that it is strategically shifting its focus on healthcare and life-style segment to promote its products in the country