Mirc Electronics to launch new TV brand IGO for online sales

Consumer durables maker Mirc Electronics which sells products under Onida brand, plans to launch a range of TV panels under 'IGO' label to cater to online sales.
The company has already introduced a range of washing machines that are sold through ecommerce channels.
"In order to capitalise on the growing e-commerce sales we will be introducing our second brand 'IGO' flat panels which will be specifically designed by our R&D team," Mirc Electronics Chairman and MD, GL Mirchandani told PTI.
"This will add 1,00,000 high-panel TVs per annum to our top line," he said.
Bullish on the growth of online sales he said, currently the online market sale of Flat Panel TV is increasing exponentially which will help in market growth.

Disposable income is steadily increasing and the first preference is for consumer electronic goods, he added.

There will be a CAGR of 30 per cent over the next five years in flat panels primarily because of drastic fall in the cost of panels, therefore making it affordable to the lower segment of the market.
Likewise, to tap the online sales opportunity in other categories, he said: "We have introduced affordable, best feature optimised washing machines for e-commerce channel, which has become one of the highest rated products by customers in this category."
He said with the introduction of eight new models of washing machines, capacity utilisation of its Roorkee factory which had suffered from a fire incident, will be increased to 65 per cent in the next financial year from 33 per cent.

Overall, the company has plans to introduce 20 new models in the flat panel range and most of them would be from its Smart TV range 'Live Genius'.
Onida is aiming for USD one billion sales, mainly driven by smart range of products targeting youths and expansion of sales in non-metro markets.