Mirc Electronics Ltd, which manufactures and markets the Onida brand of televisions, is fast becoming a leading player in the flat-screen television segment. Within two months of the launch of its 'Black' range of flat TVs, the company has garnered a market share of 8.1 per cent in November 2001.
According to a survey conducted by ORG-Gfk, Onida was ranked fifth, behind Sony (with a market share of 35.2 per cent), Samsung (16.9 per cent), LG (12.7 per cent), and BPL (9.9 per cent). Onida's market share rise is even higher than that of Panasonic (4.6 per cent), from which it sources its flat picture tubes.
Mirc's success in the new-product segment has prompted it to use flat TVs as a major growth area during the next financial year too. In the current fiscal, the company expects to book a 30 per cent growth in net profit and a 17 per cent growth in turnover.
The flat TV segment has also shown a growth of over 100 per cent during the past year, and is expected to grow between 150-200 per cent in the current calendar year. Onida is positioning its products in the high-price bracket, below the market leader Sony, but above the likes of LG and Samsung.