Onida says 'SMS Gone. AC ON!'

Company Brief

Mumbai, February 16, 2011

MIRC Electronics Ltd. (Onida), India's highly trusted and reputed Consumer Durables Company unveiled the Pre cool range of Air Conditioners - an innovation that enables consumers to operate their ACs no matter where they are in the world. So when you come home, you don't wait for the AC to cool the room, but the AC can cool the room even before you come!

Onida PreCool Air Conditioners come pre-packaged with a PreCool device that works with a normal SIM card. No matter where you are in the world, if you send a certain code (AC*ON or AC*OFF) by SMS to the PreCool device, the device can switch your AC ON or OFF accordingly. SMS Gone, AC ON!

Onida is one of India's fastest growing Air Conditioner brands with approximately 15% share of the Split Air Conditioner market. Split ACs are currently dominating the Indian Air Conditioner industry with more than 65% of all AC units sold last year. The overall room AC market in India is estimated at 3.2 million units last year and is valued at Rs 5,500-6,000 crore. It is growing at over 20 percent annually.

Speaking on the occasion of Onida PreCool launch, Mr. Vipul Mathur, GM and Business Group Head, Onida Air Conditioner, MIRC Electronics Ltd. said, "The hot summers in India & growing Indian economy have created very strong growth triggers for the Indian AC market. During the severe summer, if a consumer has to wait even 10 minutes for the AC to cool the room, it is a very painful 10 minutes. Keeping this in mind, Onida has developed the unique PreCool range of ACs that enable consumers to operate the AC from wherever they are, merely by sending an SMS. We have tested PreCool extensively with consumers and traders and are extremely happy with the response. Onida PreCool is an example of how consumer-led innovations are the ethos at Onida. With 4 models of PreCool, Onida's total AC range comprises 46 models for 2011. We expect our AC business to grow by 60% in 2011 and reach 19-20% market shares in Split ACs. Onida is today acknowledged by trade & consumers as the trendsetter of the AC category and appreciated for consistently good product quality."

Available from Rs. 17,990/- MRP, Onida PreCool AC also has another advantage - the PreCool device worth Rs.2990/- can also be used as a fully loaded multimedia mobile phone, and it comes absolutely free with all PreCool ACs. Onida has also offered consumers attractive EMI options from Rs. 1,499/- per month. Additionally, consumers will also be receiving a complimentary Aircel SIM Card at selected locations in India.

For further information, please contact:

Hanmer MS&L Communications Pvt. Ltd

Miloni Parekh

Mobile: +919833516094

Email: miloni@hanmermsl.com