Skyworth and Jaina Group Launch Joint Venture to Produce Panasonic TVs in India
Skyworth and Jaina Group form JV to make Panasonic TVs in India
The Economic TimesImage: The Economic Times
Skyworth Group, a leading Chinese electronics manufacturer, has partnered with India's Jaina Group to form a joint venture for manufacturing Panasonic-branded televisions in India. Jaina will hold a majority stake of 51% or more, with plans to launch new products next month.
- 01Skyworth Group partners with Jaina Group to produce Panasonic TVs in India.
- 02Jaina Group will hold a majority stake of 51% or more in the joint venture.
- 03The agreement was signed on Wednesday in China.
- 04The partnership aims to enhance local supply chain capabilities.
- 05A new product range is expected to launch next month.
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Skyworth Group, a prominent television and appliance manufacturer from China, has entered into a joint venture with Jaina Group, an Indian electronics contract manufacturer known for the Karbonn smartphone brand. Under the terms of the agreement, Jaina Group will hold a majority stake of 51% or more, while Skyworth will retain the remaining equity. Jaina Group Managing Director Pradeep Jain confirmed the joint venture but did not disclose the exact shareholding structure. The agreement was finalized on Wednesday in China. Jain stated that this collaboration reflects Skyworth's commitment to the Indian market and aims to promote the Panasonic television business locally. Additionally, the partnership will focus on developing local supply chain capabilities, which is crucial for manufacturing. Notably, Jaina Group recently became Skyworth's distribution partner for Panasonic televisions in India.
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This joint venture will boost local manufacturing of televisions in India, potentially lowering prices and increasing availability for consumers.
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