New launches to push up revenue by 25% in FY11: Mirc Electronics

Mirc Electronics, the company which sells its products under the Onida brand, is eyeing a 25 per cent growth in revenue this fiscal on the back of new product launches across categories.

By PTI | Jun 29, 2010, 09.49 AM IST

MUMBAI: Mirc Electronics, the company which sells its products under the Onida brand, is eyeing a 25 per cent growth in revenue this fiscal on the back of new product launches across categories.

"We should be 25 per cent better in revenue and sales this year," Mirc Electronics' Chairman and Managing Director, Gulu Mirchandani, told shareholders at the company's annual general meeting (AGM) here.

The company is planning to introduce eight new television models, he said, adding that highly innovative products under the LCD category were also in the pipeline.

Mirchandani said the company has identified the mobile phone category as one of its key growth drivers.

"The initial year was spent to set up a strong distribution network across the country to keep up with competition. But now we are venturing into affordable 3G mobile handsets. We have developed a very wide range of dual SIM, PDA-enabled mobile phones. We have also launched long- life standby battery phones especially to cater to rural markets in India," he said.

The company is also planning to raise its advertisement expenditure to about Rs 100 crore to enhance visibility of the brand and for increasing sales.

Mirc Electronics will open four Onida showrooms initially in four metros to showcase its products across all categories, he said.

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