The company sold its Onida Infotech division during the same year. In 2003-04, MIRC decided to come out from its non-core business to strengthen its core business segment. In 2001-02 it had launched the 29 inch Home Theatre, the first to convert a mono recording into a 5.1 output surround sound. With effect from 1st April, 2001 Onida Infotech Services Ltd was merged with MIRC Electronics Ltd. In the fiscal 2001, it came out with 29KY Thunder series which was amongst the first 650 watt television set in the world and has embarked on the process to launch a plasma display tube television in collaboration with Fujitsu. In 1999-2000, the company introduced multi-coloured Candy in the 14 inch TV segment. In 1998-99, it introduced the WEBCRUISER - the world first internet TV, the trendy TV and PIP in the 25` segment. During 1997-98, the company came out with a new range of products christened `Techno Value`, which has been launched with considerable success. The company concentrated on reinforcing and improving the penetration of its sales and after sales support infrastructure. The company was awarded ISO 9001 certification during 1994-95. The company has opened Onida Arcades, exclusives retail shops and introduced state-of-the-art wide vision TVs and audio systems. Commercial production at the expanded capacity started from Jul.`1995. MIRC tapped the capital market to finance its CTV expansion and diversification into the audio segment. Other group companies are Onida Saka and Monica Electronics. The company has two subsidiary companies Akasaka Electronics Ltd. MIRC is a market leader in consumer electronics goods, it manufactures the well known Onida brand of colour televisions (CTVs), Air Conditioners, Washing Machines, TV-Components & Spares and Electronic Tuners. Later it transformed as a public limited company in 1992. MIRC Electronics Ltd was incorporated in 1981 as a private limited company by Gulu Mirchandani, Vijay Mansukhani and Sonu Mirchandani of the Onida group.
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