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Symphony launches world's first wall-mounted air cooler

To be marketed under Cloud brand; company seeks global patents for the product

Cooling is hot business for Symphony
Sohini Das Ahmedabad
Last Updated : May 04 2016 | 5:18 PM IST
World's largest air cooler company Symphony Ltd is all set to launch the world's first wall-mounted air cooler under the brand name 'Cloud' for which the company has already applied for a global patent.

Achal Bakeri, chairman and managing director of Symphony Ltd said, "Perhaps, it is the first time an Indian consumer durable company has filed for a global patent for its innovation. The concept has stayed with us for over two decades, but it took us this long to crack the technicalities of having a wall-mounted air cooler that would need to draw fresh air for circulation as well as water."

Symphony would be making the product at a third party manufacturing site near Pune, and plans to start with the Ahmedabad market itself, and spread across India over the course of the next few months. The Cloud air cooler does not have an outdoor machine like a split airconditioner.

Bakeri said that over 4 million split airconditioners are sold in India every year. "If we can garner if a small share of that, the numbers could be huge," he said adding that the company's latest innovation is almost as good as a 1.5 tonne AC, but consuming much less power, at around 250 watt.

The air cooler market in India is estimated to be around Rs 3,000 crore and is growing at 15-20% per annum. The market size for domestic, residential air coolers is around 6.5 million units of which the unorganised segment accounts for 80% of the volumes with 4.8 million units.

The organised segment is only around 1.5 million units per annum at the moment, and there are around 160 million households in India that have only fans and no other cooling device.

Symphony enjoys an over 50% market share in value terms in the branded air cooler market in the country and has an installed capacity of around one million units per year. It is present across 4,500 towns, cities and villages and has eleven manufacturing bases across the country apart from Mexico and China. It sells its products across 60 countries.

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First Published: May 04 2016 | 2:30 PM IST

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