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This paper presents an effective compression technique for lossy compression of color images. After reducing the correlation among R, G and B planes using YCoCg-R transform, the Integer Wavelet Transform (IWT) is applied on each of the transformed planes independently up to a desired level. IWT decomposes the input image into an approximation and several detail subbands. Approximation subband is compressed losslessly using prediction errors and Huffman coding, while each of the detail subbandsdoi:10.5815/ijmecs.2016.04.01 fatcat:jzt2orqtuzdobfpuxwlkn3u5am