MIC Electronics enters into JV with Taiwan's Home Resources

Hyderabad-based MIC Electronics, a global leader in design, development and manufacture of LED video displays and high-end electronic and telecommunications equipment, has entered into a joint venture with Taiwan-based home lighting appliances player Home Resources Ind Co. The agreement aims at joint development and manufacture of innovative and cost-effective LED lighting products for both urban and rural applications in India.

The products covered in the agreement will be a family of LED portable lights developed by Home Resources (HR), which are ideal for grid-based and off-grid based applications. These will include features to choose the direction and colour of light, among others. 

HR will extend manufacturing assistance to MIC to cope with the volume demands. HR has patented its products in Europe, US, China, Hong Kong and Taiwan. The agreement envisages manufacture of around 100,000 lights in the next six months and around a million in the next 18 months.

"MIC will customize HR's products to meet India-specific conditions in terms of quality of power and also will adapt the products for meeting rural requirements. MIC and HR will thereby be exclusive to each other for operations in India," MIC Electronics Chairman & Managing Director M V Ramana Rao said.

Press Trust of India / Mumbai July 19, 2010