TVonics wired for digital success
NORTH West company TVonics is taking on the global electronics giants and enjoying huge growth on the back of the UK digital switch-over.
Privately-owned TVonics, part of Stockport-based Contact Holdings, makes digital set top boxes.
Contact bought the business out of administration 18 months ago, and revived it and expects it to grow turnover from £3m to £12m this year and £20m next.
Managing director Carl Butler says: “The TVonics story is exciting and compelling, our digital set top boxes and digital recorders are unique.
“The technology and design is fantastic is fantastic and they are the only product made in the UK.
“We hope this strikes a chord with consumers, as we are competing with some really big names.”
TVonics’ products are made under licence by Sony in Bridgend South Wales, and have won awards for energy efficiency, reliability and user-friendliness.
Mr Butler said: “Obviously the opportunity for the UK market is substantial, but we’re looking beyond these shores as well and into middle and eastern Europe.
“We’re not the cheapest in the market place by any means, but our designs really set us apart – our aim is to be seen as the Apple of our sector.”
Contact Holdings is owned by Mr Butler and majority shareholder and chairman Phil Smith. As well as TVonics, its first consumer brand, there are established profitable businesses in supply chain management and packaging.
He said: “2009 is going to be a really good year, and 2010 will be even better. We are starting to see people sitting up and taking notice of what we do and we need to build on this momentum.
“We have invested millions in TVonics, and we haven’t borrowed anything – it’s our own money.”
Despite this he said Contact had not ruled out taking external investment: “We are 100% determined that this business will fulfil its potential, and for that reason we are open to anything.
“We don’t want to be one of those companies that goes 60% of the way and then loses its nerve.”
TVonics products, which genuinely look different to other set top boxes and digital recorders on the market, are already on sale in many leading stores, including John Lewis, Curry’s, Argos, Tesco and Carphone Warehouse.
Mr Butler said: “As well as design and being the only British-made brand on the market, we hope the quality, integrity and ease of use of TVonics sets us apart.”
