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R. Ravikumar

Chennai, July 17 Backed by a Rs 100-crore spend on R&D and a new production line, Mirc Electronics, the owner of the brand Onida, is all set to make and launch a range of LCD TV sets by August. The company will produce all but the LCD panels, which will be imported from Samsung and LG, in its new facility at Wada near Mumbai.

The new facility, apart from resulting in a significant saving in costs, will also enable the company to bring into the market a new range of slim TV sets, the segment which enjoys the most rapid growth in demand. Very soon, it will be introducing a 29” slim and 21” ultra-slim model, catering to the rapidly emerging slim TV segment. The 29” slim model would be slimmer by almost 15 per cent to the existing 29” flat TVs, and 21” ultra-slim model would be at least 40 per cent slimmer than the existing model.

But today, Onida is more than TV sets. Mirc Electronics also has under the ‘Onida’ brand air-conditioners, washing machines, microwave ovens, home theatre systems and DVD players. It now intends to roll out a new range of fully automatic washing machines too.

However, TV sets remain the mainstay of Mirc’s business, contributing 60 per cent of the company’s Rs 1,600-crore turnover. “Our aim is to grow strongly in the CTV category with a 16 per cent market share target for the year 2007-08, and our focus will be on the 21” AND 29” flat segment,” says Mr Gulu Mirchandani, Chairman and Managing Director, Mirc Electronics.

Mirc Electronics has earmarked an overall marketing spend of Rs 80 crore for the year, he told Business Line recently. McCann Erickson handles the company’s creative accounts.

The company targets a Rs 2,000-crore turnover for the current fiscal. “We are on track to achieve the same on the back of tremendous success of our air-conditioner and strong marketing support for all other products,” he said.

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