Akai, Videocon venture takes off

MUMBAI, APR 13: Akai India Ltd, the newly-formed joint venture between the Dhoots of the Videocon group and Akai Electric Co, will start functioning with an authorised capital of Rs 50 crore before increasing it to Rs 100 crore in three years. Addressing a meet on Tuesday, chairman Pradeep Kumar N Doot said the company would honour all commitments made by the Baron group to Akai customers.

Akai was distributed by Baron Electronics until December last and has a 12.5 per cent marketshare in India. Akai will hold a 30 per cent stake and the Dhoots 70 per cent in the new company. The company will continue to have attractive price offerings, and cater to both the low-end and premium market segments, Takashi Sugiyama, managing director of Akai Electric, said. At the premium end it would have Plasma televisions and digital video disks while also continuing with exchange offers. Over 20 television models will be introduced in the coming months, Doot said. TVs will be manufactured at its Salt Lake plant in Calcutta,he added.