New Delhi, Mar 6: Chinese consumer goods major Haier's Indian arm is eyeing a 7-8 per cent market share in the refrigerators and 9-10 per cent share in the air conditioners segment by March 2009.
''We are targeting a 7-8 per cent market share in the refrigerators and 9-10 per cent share in ACs by the end of next fiscal,'' Haier Appliances India Ltd Director and COO Pranay Dhabhai told reporters here. The company plans to strengthen its air conditioner and refrigerator business through an aggressive sales channel expansion as well as expanding and consolidating its dealer and after sales service network across the country.
''We produce three times than the estimates of ACs and refrigerators for the Indian market which will be around Rs 40 lakhs and 20 lakhs respectively in the next fiscal, which will give us an edge in the competitive market,'' Mr Dhabhai said.
The Rs 325-crore Indian unit also plans to add two more Planet Haier Showrooms from the existing 23 by the end of 2008. It hopes to touch the Rs 500-crore mark in 2008 and cross the Rs 1,000-crore mark before 2010.
It launched its new range of energy-efficient air conditioners and refrigerators today for the coming summers.
The new air conditioner range comprises of 16 spilt AC models and nine window AC models along with nine new refrigerator models, in both frost-free and direct cool categories.
''We are now set to enhance our range of cooling products, comprising of Air Conditioners and Refrigerators with one of a kind features,'' Mr Dhabhai said.
The ACs will enable power saving by up to 51 per cent, and comes in a price range of Rs 11,990 for 0.75 ton to Rs 59,990 for 1.5 ton AC.
The refrigerators will be available in the market at a price tag of Rs 7,390 to Rs 1,39,000 and in the bottom mount refrigerator range from Rs 15,990 to Rs 23,590.
According to reports, Indian revenues comprise about two per cent of the global revenues, but with the burgeoning economy, the consumer durables market is expected to grow further which spells bigger business for the company.
The company also plans to make India a manufacturing and exporting hub, given the convenient geographical location of the country and its proximity to the global headquarters in China.
The company has been spending about 10 per cent of its revenues on promotions and this amount is expected to be hiked up.
Industry watchers say it has spent around Rs 200 crore in the country so far, having recently acquired the 40-acre Anchor Daewoo facility in Pune for manufacture of refrigerators, to be followed by televisions and washing machines.
Haier globally has been growing at 65 per cent annually and as part of its expansion strategy in India, it plans to launch new ranges of its televisions, air-conditioners, refrigerators and washing machines.