Country's leading consumer durable major lG Electronics is expecting 20 per cent growth in its air conditioner business on the back of new launches. "We are expecting 20 per cent growth in our air conditioner business and company projected a turnover of Rs 2500 crore with 28 per cent market share by the end of this year," lG India business head, air conditioners Saurabh Baisakhia told The Pioneer.
According to Baishakhia, small towns with a population of up to 10 lakh would be the growth driver of its air conditioning business. "Now Tier 2 and Tier 3 places are accounting for around 40 per cent or our sales," he said, adding, "the company has added products in its line up keeping in mind the condition of those places." Moreover, the company also has entered into tie ups with several real estate firms as DlF, MGF, etc to install lG's air conditioning equipments in their luxury flats.
When asked about has slowdown in real estate effected lG's business he said "Yes it gets effected." The price range for these models (split) will vary from Rs. 25,000 to Rs. 55,000. With new technologies and features, the company promises energy savings up to 53 per cent (up from 42 per cent) in its 5-star rated ACs. The new AC range has one of the most unique features that allow users to repel the mosquitoes away, without use of any chemical. Ultrasonic waves are utilized to repel the mosquitoes away. These ultrasonic waves are beyond the audible range of humans and only impact the sensing of mosquitoes. Mosquito away technology can be activated using a one touch key on the remote controller.