The company today unveiled a number of new products across five categories -- refrigerators, washing machines, air conditioners, microwave oven and water purifiers -- priced in the range of Rs 8,200-32,000.
With the launch of new products, the company aims to capture 25 per cent market share in the refrigerator category, 20 per cent in washing machine and 10 per cent each in microwave oven, air conditioner and water purifier categories.
"Several more new products will be introduced in future to increase our market share. But first we will focus on what we have already launched," company's Managing Director Arvind Uppal said. On rising steel and other commodity prices, he said the company has increased the prices of its products by 2-3 per cent during January to March period in a phased manner.
"There will be another price increase by 2-3 per cent in April-June quarter across various categories," Gupta said.
When asked if there has been a slowdown in the market, Uppal said: "Yes, there was a slowdown witnessed in consumer demand after the market-crash in January. But still the market is growing."
The industry grew very fast earlier and what is now happening, is just a correction, he added.The company sells its products through 10,000 retail outlets across the country.