According to sources, the leading consumer durable company of Netherlands, Philips Electronics has signed a licensing pact with Videocon. Philips wants to enter the production and sales of television in India. The Dutch company is keen on improving its profitability in the business.

Hence it has decided to join hands with Videocon so that it can execute its global strategy of expansion by its large sales and distribution network. For the licensing part, it is going to depend on the India’s consumer durable major Videocon Industries Ltd. The licensing pact with Videocon is going to be a contract of five years.  

Head of consumer lifestyle business in India, Mr. Mahesh Krishnan has informed that Philips is interested to expand its global presence in television market and now it is looking forward to penetrate the Indian market with some local company. He has also informed that the 5-year brand licensing agreement between Philips and Videocon will enhance the marketing and sales of the Dutch company.

They will be responsible for the source, distribute, sell and market Philips consumer televisions in India.