Speaking to reporters after launching its new range of air-conditioners here today, Saurabh Baisakhia, business head - air conditioners, LG India, said the a-c business stood at around Rs 2,000 crore in 2013 and the company projected a turnover of Rs 2,500 crore with a 28 per cent market share by the end of 2014. It today launched India’s first a-c with Himalaya Cool, Monsoon Comfort and Mosquito Away Technology.
“With our new technologies, a 5 star rated a-c will have energy savings up to 53 per cent,” added Kulbhushan Bhardwaj, assistant general manager- room air-conditioners, LG India.
Also Read
The new products would be a good game changer and going forward it could also contribute 30-40 per cent to the total sales, added Baishakhia. It plans to launch two new designs and expects markets beyond Tier II cities to play a significant role.
The company, which entered India a little over two decades ago, cumulatively sold seven million units in the room conditioners category. It claims to have a 24.4 per cent market share. The industry sold 3.5 million units in 2013 and is expected to sell 4.6 million units in 2015, he said.
Baishakhia noted, the industry reported 10-12% CAGR.
"The new products which were launched will be a good game changer and going forward it can also contribute around 30-40% of the total sales" said Baishakhia.
The company plans to launch two new designs and expects markets beyond tier - II cities would play a significant role.