Fedders Lloyd forays in consumer electronics

New Delhi, Mar 22: Fedders Lloyd Corporation Ltd today announced its foray into the consumer electronics and home appliances segment under the brand name Lloyd.

The Lloyd range will include air conditioners, microwaves, DVD players and LCD televisions. To be available in more than 30 models across all markets in the country, the products will be manufactured in the company's facilities.

The company is already present in air conditioners segment.

The products will be made available and serviced through a dealership network being scaled up at an initial investment of Rs 50-60 crore.

''The launch of Lloyd appliances is an essential component of our business strategy to capture significant market share in the highly potential consumer durables market. Our corporate philosophy of fearless innovation and uncompromising quality products will ensure that we accomplish our mission to be amongst the top three premium consumer durable brands by 2010,'' Fedders Lloyd Corporation Chairman and Managing Director B R Punj said.

The new products range features the company's technological innovation called 'Crystal Wave Technology'.

''Lloyd appliances will herald a new change in the consumer durable industry with products that are competitively priced, futuristic feature led and offer value for money. Every product bearing the Lloyd name carries the Crystal Wave Technology to make life simpler and better for our consumers,'' said company President Pavan Bhargava.

The new product portfolio launched under the Lloyd brand include air conditioners which are available in seven models of Split ACs, four models of Window ACs and two models of Floor ACs. The microwaves and LCD televisions are available in six models each while DVD players are present have been offered in four varieties.

The company is aiming to open an extensive dealer and distribution network in major cities across the country. It will have trained after service sales force to cater to the service needs of consumers.

The company plans to put in place 200 service centers across the country in the next two years.

UNI