LCM Project
South India’s first LED Panel Assembly, Skyquad to expand manufacturing operations
Hyderabad May 31, 2018: Hyderabad based Skyquad Electronics today announced its collaboration with one of China’s leading Television brand and company, Skyworth to set up South India’s first LED TV display panel assembly unit in the outskirts of the city. This unit is part of the expansion of Skyquad’s existing electronic manufacturing facility where they will now assemble superior quality LED TV panels for Skyworth brand as well as any other potential Television OEM brand in the region.
This unit was formally inaugurated by Daniel Song, Managing Director, Skyworth India in the presence of Raminder Singh Soin, CEO and Manikandan Narsimhan, Director of Skyquad Electronics among other dignitaries and employees.
Daniel Song, Managing Director, Skyworth India said, “I am pleased that we have signed a collaboration between our companies bringing together Skyquad’s vast experience in local manufacturing and our expertise in developing advanced LED panels. Together, we will bring tremendous opportunities for Skyworth Television OEM brands in India offering a competitive and advanced technology solutions. We look forward to expanding Skyworth’s footprint in India’s bustling television market.”
The plan is to manufacture 2,00,000 LED TVs in the current financial year and take it to 3,50,000 units in 2019-2020. This unit will have a capacity to assemble 2000 LED TV panels per day per shift. The LED TV panels that will be produced in this facility will range from 14 inch to 55 inch TVs. This state of the art technology collaboration will provide impetus to local manufacturing since there would be a saving of 15 per cent on import duties and minimises the hassles of logistics.
To ensure the facility is streamlined as per the global manufacturing and process standards, initially, there would be a technical team from China based here for over a month. They will also impart the knowhow to the technical team based in Hyderabad. Importantly, this unit will add employment to over 200 people taking the total number of people by Skyquad and group companies to over 2000.
“This milestone collaboration with Skyworth, a global manufacturer of LED TVs and an innovation leader in the LED panels, is a significant step in our long-term manufacturing strategy of expanding our presence in the high volume Television market” commented Raminder Singh Soin, CEO of Skyquad Electronics. “This collaboration is a key to support our strategic expansion in offering a great value proposition to our clients, expand the market opportunities and accelerate the growth for both Skyworth and Skyquad Electronics.”
About Skyworth
Skyworth was established in 1988, with the head office located within Shenzhen High Tech Industrial Park which is honored as ”China’s silicon valley”, and has more than 20,000 employees. Skyworth is a large-scale high-tech corporation mainly engaged in the development and manufacturing of consumer electronics, display devices, digital set top boxes, security monitors, network communication, semi-conductors, refrigerators, washing machines, cell phones and LED lighting etc. In 2000 Skyworth was listed on the main board of HK Stock Exchange (HK0751). After a development of more than 20 years, Skyworth has grown to be one of the Top Ten Color TV brands in the world and a top brand in Chinese display industry market, and was ranked 14th among the top 100 electronic enterprises in China. In 2012, the brand value of Skyworth has reached 5.7 billion USD.
About Skyquad Electronics
Skyquad Electronics & Appliances Pvt. Ltd. (brand owner ResoluteTM ) is a leading Electronics Manufacturing Services (EMS)/ODM Solutions company based out of Hyderabad, India. Established in 1998 as a job-works firm, today it caters to global OEMs in Consumer, Power & Lighting, Telecom, Aerospace & Defense and Medical Electronics Sectors. Built over 1,20,000 sq ft of space with 6 SMT lines and close to 1500 employees, Skyquad has carved a niche for itself in the EMS industry in India. Having been part of a Tier-1 Canadian EMS company, it continues to implement global processes and systems like LEAN manufacturing, SAP as the IT backbone, Six-Sigma culture. Skyquad is aligned with the Government of India’s ‘Make-in-India’ program and aims to be a champion in the EMS/ODM space in the country.
For further information please contact:
Gurbax Soni
Business Development Manager
+91 9000933155
gurbax@resoluteelectronics.com
