Feb 6, 2013: Mirc Electronics Ltd. brand Onida, which has currently got close to 14 per cent market share in the split air conditioner market, is all set to exit the window air conditioner segment next year. This move comes in the backdrop of dwindling sales of window models over the year and increase in sales of split air conditioner market. The split air conditioner market in India is estimated to be 2.7 million units in a year.
Onida has been mostly importing the different air conditioner models from China and they have now plans to set up an assembling facility in Maharashtra in next couple of years which many need an investment of Rs. 400 crores. The company is targeting a market share of 18 per cent in the split air conditioner market this season and for this they have set aside Rs.50 crore for different marketing expenses.
Onida as part of its expansion plans, on Tuesday launched its new range of air conditioners in the split and window category. The company also launched new models with inverter technology especially targeting the summer season when there will be power cuts.