Videocon, Akai join hands

The Videocon group has formed Akai India, a 30:70 joint venture with Akai of Japan to sell a wide range of products from the Japanese company. The product range will include high-end as well as mass-market products.

The venture is expected to begin with a capital of Rs 100 crore. Manufacturing operations for colour TVs will be located at the Philips India plant at Salt Lake, which is in the process of being acquired by Videocon. Production of other products, including refrigerators, washing machines and air-conditioners, will be undertaken at Videocon''s existing facilities.     Akai earlier had a tie-up with Baron International, which is now selling Akai rival Aiwa''s products in India.