Haier eyes Rs 550cr revenue this year

Riding on robust growth driven by new launches, Chinese consumer goods maker Haier expects to cross a turnover of Rs 550 crore in India this year. It is also targeting to achieve around 8% market share in refrigerator segment and 10% share in the AC segment in the current year.

The company, which clocked a revenue of Rs 325 crore in 2007, is striving for a 70% growth in its revenue in the current year as it announced the launch of a slew of products coupled with aggressive advertisement campaign to achieve the target.

"This year, as Haier is introducing some new products and simultaneously expanding some of the existing product range. We are expecting our revenues to cross Rs 550 crore," Pranay Dhabhai, whole time director and chief operating officer, Haier Appliances (India) said.

The company today, launched a new range of air conditioner comprising 16 split AC models and nine window AC models. It also introduced nine new refrigerator models, in both frost-free and direct-cool categories, besides a new range of washing machines and liquid crystal display television sets. "We are targeting a sale of one lakh units in washing machine and two lakh units in the TV segment," Dhabhai said.

The company also plans to spend Rs 23 crore on advertising and promoting sales in the next two months.