Home-grown consumer electronics brand Onida is aiming to join the billion dollar club in the next four years with a six-fold jump in revenue on the back of 'smart products' targeting youth, besides focusing on expansion in non-metro markets.
Mirc Electronics, which owns Onida brand, plans to take its dealer count to 9,500 in the next three years focusing north and east regions besides introducing new non-metro centric models with highly optimised features.
“By 2020, Onida will be known for smart products. We will be one among the top 3 choice in young consumers' mind. We will be doing around $1 billion of sales subject of market stability,” Mirc Electronics Chairman and MD, Gl Mirchandani told PTI. In the financial year 2014-15, Mirc Electronics had a revenue of `1,070.62 crore.
“As a strategy, we are moving into more connected devices (Smart devices) product portfolio- where potential is huge in metros,” he added. Onida plans to introduce 20 new models in its flat panel range in which most would be "live Genius" range of smart TVs. It is loaded with android platform, Quad core processor and Wi-Fi.
In the segment of air-conditioners, Onida has launched "i Genius" model, which can be controlled from the owner's smart phone through Wi-Fi.