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Indian TV sets on Wal-Mart shelves
By siliconindia staff writer
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Monday, 31 January 2005, 20:30 IST
MUMBAI: IndiaÂ’s second largest TV brand, Onida will be soon available in across Wal- Mart stores across the USA.
Mirc Electronics, makers of Onida and Igo brans of colour TVs has sent a few TVs for testing purposes and a regular supply contract is expected by April, company sources said.
“We have sent a small batch of televisions to them but it is at a preliminary stage and a clearer picture would emerge by the end of March or in April,’ official said.
The company has shipped 3,000 units of Onida televisions to Wal-Mart. As of now, the long-term strategy of the company is not clear as to whether Mirc will be sending products under both Onida and Igo brands or will stick to the mother brand, if the dea is struck.
While textiles and leather-based products have been at the forefront of outsourcing noise from international retail giants, this is one of the first instances where a consumer electronics product from India will figure on the Wal-Mart portfolio.
While, Wal-Mart is known to be a big discount extractor, leaving little margin at the hands of manufacturers, a long-term supply deal with the retail chain could translate into a significant jump in toplines, which pulls the profit figures automatically, though to a smaller degree.
Wal-MartÂ’s interest in sourcing televisions from India came soon after the US Trade Authorities unveiled a proposal to impose anti dumping duties on made-in-China CTVs, that were not just cheaper but also killed the local industry.