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Press Release |
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TVS Electronics Rolls out the first ever 'made
in India' Set Top Box |
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Inks deal with Siti Cable, part of Zee
Network as first customer
Chennai 6th August 2004 - TVS Electronics
Limited, India's leading computer peripherals
manufacturer launched the India's first ever
'Made in India' set top boxes, today. The DTH
set top boxes are being manufactured at its
newly commissioned automated high volume
manufacturing line in Chennai. TVS-E has also
signed up an agreement with Siti Cable Network,
part of the Zee Network as its first customer in
India for this.
Commenting on this momentous achievement, Mr.
Gopal Srinivasan, Wholetime Director, TVS-E,
says, "We've taken a bold step in being the
first Indian Company in this business. This will
help the company become a strategic player in
the fast emerging Digital home market in the
near future. With Zee Network as our customer,
we're very confident of scaling up to 20,000
STBs per month by December 2004".
Backed by a Team of design and manufacturing
engineers, the state of the art facility has
been commissioned by TVS-E with an investment of
Rs. 4 Crs, and has a capacity to produce 50,000
STBs per month.
Commenting on the tie-up with TVS-E, Mr. Jawahar
Goel, Vice Chairman, Zee Network, adds, "In
TVS-E we found an ideal Indian Company which has
design and manufacturing capabilities to locally
produce STBs. TVS-E's excellent track record in
maintaining high quality standards offers us a
unique advantage over imports. We have been
importing and selling 15,000 STBs units per
month and intend switching over to locally
manufactured STB's by the end of September".
TVS- E expects to sell about 75,000 boxes in the
next five months of this year, at a revenue of
Rs. 20 Crs. However, the inverted tariff
structure of 20% Import duty and 0% ED for full
import as against full import duty and 16% ED on
parts import, is a deterrent for local
manufacturing. If these issues are sorted out,
TVS-E expects a steep increase in local
manufacturing.
The Indian Television market already has a large
installed base of 80 million television sets and
over 48 million households have cable access
which is growing at over 15%. This offers unique
opportunity to large hardware and design
companies like TVS-E to build STB locally. The
Set Top Box market can be segmented into cable
based, satellite based and broad band based
depending on market need and broadcasters.
TVS-E will continue to invest in this direction
to eventually offer Cable, satellite and Broad
Band STB's in future. |
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About TVS Electronics: |
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TVS Electronics Limited, a part of the 90-year-old
TVS Group is one the largest manufacturer of Computer
Peripherals in the country. The range of offerings
includes Products - Dot Matrix printers, Keyboards,
Printing Supplies, Transaction Solutions, and Point
of Sale Products (PoS).
TVS-E has a large distribution and service network,
which reaches over 450 towns across the country
with two National Distributors, more than 200 Regional
Distributors and over 3,000 Authorized Dealer Partners.
The Company has manufacturing facilities in Tumkur,
Chennai and Himachal Pradesh |
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