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Time of India
11 hours ago
- Business
- Time of India
Alarms ring at speaker, wearables, TV makers on Chinese rare-earth squeeze
It's not just electric vehicles, China 's export control licensing of rare earth metals is creating panic among speakers, wearables, and television manufacturers who are sitting on thin supplies of permanent magnets with the threat of production coming to a standstill looming large, industry executives and associations said. Among the seven rare earth metals facing restricted exports, terbium and dysprosium are critical components in neodymium-Iron-Boron (NdFeB) magnets, or permanent magnets, which is the preferred choice for high-performance, portable and compact audio products. These magnets account for 5-7% of the bill of materials (BoM), depending on the product category, and electronics manufacturers in India import nearly 100% of their requirements from China, industry association ELCINA (Electronics Industries Association of India) said in a whitepaper presented to the government highlighting the issue. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 40세 미만이라면 이 매혹적인 게임을 하지 마세요 경복의 바다 플레이하기 Undo ETtech 'Inability to procure NdFeB magnets may halt speaker manufacturing lines in Noida, Chennai, and Pune. OEMs may switch to importing finished speakers, reversing the gains made under Make in India,' ELCINA said. Live Events Shipments of magnets and even finished products with embedded magnets are being stopped at Chinese ports, pending end-use declarations. This is leading to production disruptions of speaker assembly units in India, delaying supplies to customers including domestic TV and audio brands, the industry body said. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories Arjun Bajaj, director at TV maker Videotex, confirmed that there have been delays from their supplier side due to non-availability and delayed shipments of permanent magnets from China. This has disrupted their product roadmap, fuelling the search for alternatives and solutions. 'We are working closely with our suppliers to ensure adequate stock for the upcoming season, thereby maintaining production continuity.' Bajaj said. "Additionally, based on supplier guidance, we are actively exploring alternative solutions such as ferrite magnets, which offer reasonable performance trade-offs," he added. Another TV manufacturer Super Plastronics Pvt. Ltd. that sources speakers from Indian contract manufacturers, said Chinese exporters have been waiting for over 60 days for license approval. 'If imports are impacted, consumers will suffer on sound quality as there is no alternative with that compact size to have that kind of sound output,' said Avneet Singh Marwah, CEO at SPPL. Speaker maker Sunvoice Electronics currently has only one month's stock till July, which is sufficient for current production, but will bring production to a halt unless its customers approve the use of inferior alternatives such as ferrite magnets. 'We will not be able to manufacture speakers. We have started looking for alternatives such as ferrite magnets, even though they are of inferior quality, as a short-term mitigation strategy. For standalone loud-speakers, magnets make up almost 50% of the cost of production,' said Chacko Mathew, CMD, Sunvoice Electronics, which supplies to Dixon Technologies, Videotex, Panasonic and more. 'But this is a compromise. Ferrite magnets, while cheaper, are also heavier and do not offer the same sound quality as Neodymium,' he added. Speaker manufacturers and importers have approached the government for end-use certificates required as part of the Chinese exporter's license approval process where they must provide extensive traceability documentation. Ashok Chandak, president, India Electronics and Semiconductors Association (IESA), said the current situation can be partially blamed on Indian manufacturers who ignored the risk back in 2020. "While several countries, including India, possess reserves of critical minerals, the lack of local processing capabilities—largely due to economic viability and limited market size (often just a few hundred million USD per material)—has led to an overdependence on imports," he said. Following the announcement of export control in April, prices of China-origin magnets have increased by 15% due to tightened supply, Mathew said, adding that ongoing negotiations with suppliers indicate that if import resumes, costs will remain elevated. However, prices of permanent magnets almost double when sourced from Japan, Vietnam, and even when procuring recycled magnets from Indian companies, while availability is limited and inconsistent, according to a price analysis done by ELCINA.
Entrepreneur
13-05-2025
- Business
- Entrepreneur
Videotex Aims Turnover of INR 1,000 Cr in 4 Years, to Enter New Categories
It aims to onboard over 10 new brands in the LED space by FY2028–29, further strengthening its position as a leading OEM in the industry. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Videotex, India's leading original design manufacturer (ODM) for TVs, is aiming to double its turnover to INR 1,000 crore in the next four years from the current annual revenue of about INR 450 crore. Videotex makes TVs for leading brands like Lloyd (Havells), Reliance (BPL, Reconnect), Vijay Sales (Vise), Daiwa and over 25 other brands. While television will remain its mainstay, the Noida-based company has plans to enter new categories as part of its expansion plans. "Videotex plans to diversify its product portfolio by entering into new categories, capitalising on our strong brand partnerships, commitment to product quality, and manufacturing excellence. On the operations front, we are enhancing our injection moulding capabilities and integrating AI for smarter, more efficient production," Arjun Bajaj, Director of Videotex told Entrepreneur India. "We also aim to onboard over 10 new brands in the LED space by FY2028–29, further reinforcing our position as a leading OEM in the industry. In addition, we are focused on developing new technologies for the premium segment while also continuing to improve and expand our offerings in the affordable segment, ensuring we cater to the full spectrum of consumer needs in the market," Bajaj said. Videotex has a manufacturing capacity of 2.2 million TVs per year in its existing plant. However, in its new plant (Phase 2), it will expand to a total capacity of 3.2 million units annually in the next two years. As part of its future strategic roadmap, Videotex is placing significant focus on Mini LED technology. "As the first Indian-origin company to introduce Mini LED Smart TVs, we are bringing Full Array Local Dimming Zone Technology to market, delivering deeper blacks, superior contrast, and enhanced brightness. Our goal is to offer a near-OLED experience at a more accessible price point, setting a new standard beyond conventional LED technology," Bajaj said. "We are also proud to have been instrumental in creating the WebOS TV market in India, and we will continue to emphasise and expand on this platform as a key differentiator in our offerings. Apart from that, we will also be introducing other platforms, offering our partners a complete range of solution choices," he added. Asked about the future of television at a time when mobile devices seem to dominate, Bajaj said that the pandemic served as a "reality check" where small screens cannot match the immersive entertainment experience that larger TVs provide. "With increasing affordability and evolving consumer aspirations, a significant number of Indian households now own two or more TVS, compared to just one in the past," he said. There also has been a noticeable shift in OTT consumption patterns. "While smartphones, driven by low-cost devices and data, accounted for nearly 70 per cent of OTT usage around 2018, that trend is evolving. By 2023, over 45 per cent of OTT users preferred watching content on smart TVs. This reflects a strong move toward larger, feature-rich screens that offer a more cinematic, home-theatre-like experience, especially as more films premiere directly on OTT platforms," Bajaj said.
