The company presently has 53 per cent market share in the segment and targets to grow its base, which is expected to be more than double in 2018.
"In the overall AC market, we have 20 per cent market share and in the inverter AC, we have 53 per cent," said LG Electronics India Business Head-RAC Vijay Babu, adding "We would maintain that ration this season".
He further in 2018, the inverter AC market is expected to be around 3.1 million units with a growth of 116 per cent.
"We have increased our prices by 10 per cent," said Babu, adding that "if you give right and futuristic product to the Indian consumer, then nothing would happen."
This season, LG Electronics India has line up of 59 new inverter AC Split models ranging between Rs 42,000 to Rs 64,000.
"We have started 100 per cent inverter transition last year and we have successfully done it and we are completely giving a new thing to the customer this year," he added.
Besides, LG is also providing easy finance options to its consumers and has tied up with several financial institutions as Bajaj Capital etc.
The company has also started selling air-conditioners online through its channel partners such as Amazon and Flipkart, he added.
The company has two manufacturing units in Greater Noida and Pune with a manufacturing capacity of 1.4 million units per year.
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve hit your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Access to Exclusive Premium Stories Online
Over 30 behind the paywall stories daily, handpicked by our editors for subscribers


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app