September 28, 2022
1 min read

Viera Group bets big on LED TV

The company said it has already invested Rs 120 crore at the new facility, and the rest will be invested in the next six months…reports Asian Lite news

Homegrown original design manufacturer (ODM) Veira Group on Monday announced to invest a total of Rs 200 crore at its new manufacturing plant in Greater Noida, that will help the company manufacture one LED TV every 5 seconds.

The company aims to hire 1,000 people, thus creating new job opportunities for R&D personnel, management personnel and skilled workers.

The company said it has already invested Rs 120 crore at the new facility, and the rest will be invested in the next six months.

This is the second manufacturing plant of Veira Group in India, the first being at sector 63 in Noida.

“It’s about time that Indian manufacturing takes the next step to compete with global manufacturing by having large-scale and automated production plants,” Sharan Maini, Director Operations, Veira Group, told IANS.

With the support of the government, “we are confident that India will become a global hub for the production of high-quality electronic products,” Maini added.

With the new manufacturing facility, the company increases its total production capacity of Smart TVs by more than 3 million units annually, amounting to a total of 4 million LED TVs per year from the present 1 million units annual capacity.

The plant currently has 400 000 square feet dedicated to LED TV production.

Furthermore, the company said that the PCB assembly capacity of the plant is being upgraded to produce 20K LED TV mainboards and PCBs per day.

“We believe we will capture more than 15 per cent of the market by the end of 2023. The new plant and R&D Centre will help with the production of technologically advanced products and the introduction of new manufacturing lines is in line with the �Make in India’ initiative,” said Maini.

ALSO READ: Adani unveils plan for next decade

Previous Story

Adani unveils plan for next decade

Next Story

Mobile lead online festival sales

Latest from Business

India Hits 100GW Solar

The expansion is not only in scale but also in quality, with significant capacity dedicated to high-efficiency modules. Many manufacturers have adopted vertically integrated operations, enhancing quality, reducing costs, and improving resilience

Jewellery Exports Shine Bright

The GJEPC noted that product diversification has played a major role in sustaining momentum. Lightweight and contemporary designs are gaining traction among younger global consumers, helping Indian jewellers appeal to a wider

China Curbs Hit India’s Electronics Boom

The ICEA noted this results in delays, inefficiencies, and higher costs — alternatives from Japan or Korea cost up to four times more than Chinese machinery. India’s transformation into a global electronics

India Maps 8.52 MT Rare Earth Reserves

The Atomic Minerals Directorate for Exploration and Research (AMD) and the Geological Survey of India (GSI) are actively exploring and augmenting rare earth resources, while the GSI alone has added 482.6 million

‘India’s Digital Hub Ascends’

The event also featured discussions on the Quad Partnership for Cable Connectivity and Resilience, reiterating commitments made during the July 1 Quad Foreign Ministers’ Meeting India’s growing role as a key digital
Go toTop

Don't Miss

India’s Operation Turtshield lauded on global stage

The Indian delegation has also been negotiating and deliberating on

India’s Karman Kaur Thandi wins women’s ITF

With this victory, the 24-year-old has won her second career