Onida to manufacture television panels!
The company plans to register 10 percent revenues from this category.June 08, 2018 | comments ( 0 ) |
Onida, an Indian consumer durables brand has started manufacturing television panels at their Wada facility for captive and non-captive purposes. As the Government of India has increased customs duty on import of finished television panels for encouraging domestic manufacturing, the company has thought this is the right time to manufacture panels in India. The initial capacity of panels would be half a million units per annum.
The company is now focussing on non- captive manufacturing, which means, the company’s manufacturing facility could be used for other companies who do not own such units in India. In FY19, Onida is targeting 10 percent of its revenues from non-captive sales of finished goods of televisions and television panels.
The company has recently brought back its iconic mascot ‘The Devil’ and tag line of ‘Owner’s Pride” and has spent Rs 30 crore on advertising across all formats like television, print, outdoor, digital and for advertising during the Indian Premier League (IPL).
The company is targeting mini-metros aggressively for product push. As there is prediction of normal mansoon during the year and good GDP rate of 7.5%, the demand for consumer durables would go up.
Onida has presence across 4,500 dealers and is adding 1,000 dealers every year across India.
Commenting on this development, Vijay Mansukhani, Managing Director, Mirc Electronics Limited, said, “We have been getting inquiries from leading players from across the World for the manufacturing of televisions and television panels. We will work with some of these players and the results of this would be visible from Q2 FY19”
( By Shipra Srivastava)
- Jubilant FoodWorks appoints Coca-Cola official
- India hikes import duty on 29 products
- McDonald's has replaced plastic with biodegradable alternatives
- Geo-tags, local language shopping- Amazon all set to enhance customer experience
- DLF ties up with Uber once again for a superlative shopping experience
- UP Cabinet clears Patanjali's Rs 6,000-crore food park
- RapidRetail's new store in Ujjain aims to strengthens Patanjali’s brand connect
- Aditya Birla Fashion and Retail Ltd Brings American Eagle Outfitters to India
- Reliance Brands in talks to buy Genesis Luxury
- Gini & Jony partners with NucleusVision