Financial Daily from THE HINDU group of publications
Saturday, Aug 21, 2004
Financial Daily from THE HINDU group of publications Saturday, Aug 21, 2004 |
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Corporate
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Outlook Home networking to power Onkyo topline Nina Varghese
Chennai , Aug. 20 ONKYO'S Home Networking concept will drive the company's topline growth in the next two years, according to Mr M.A. Dhandapani, Managing Director, Onkyo Sight & Sound India Pvt Ltd. At present, almost 20 per cent of the company's turnover comes from home networking. Onkyo India, with a turnover of Rs 46 crore, has been growing at a rate of 70 per cent per annum. It aims to achieve a turnover of Rs 100 crore by 2006, he said. Home networking or custom installation is still new to India and involves not just the distribution of audio and receivers around the house but also creates lights and ambience, Mr Dhandapani said. Onkyo has three distinct streams of business: hi-fi audio, audio visual or home theatre and the new business of home networking. The company's home theatre system caters to the top end of the market and costs between Rs 10 lakh and Rs 15 lakh. According to Mr Dhandapani, there is a big market for the product, both at the top and entry level. One of the reasons for the growth of home theatre is the reluctance of a certain class of customers to leave their homes to visit the cinema, he said.
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