LG, which has moved to extra energy-efficient inverter ACs, has additionally started exporting to Sri Lanka and is exploring alternatives in neighbouring markets corresponding to Bangladesh.
“We’ve registered a development of 27 per cent in AC gross sales within the first half (Jan-June) interval. We registered good gross sales this 12 months ranging from February itself,” LG Electronics India Enterprise Head (Air Conditioners) Vijay Babu advised PTI.
In 2016, the corporate registered AC gross sales of round Rs 2,500 crore, he added.
The Indian room air conditioners market is predicted to be round 4.5 million items and is rising at a Compounded Annual Progress Charge (CAGR) of 15 per cent.
“This month, we now have additionally executed effectively. A steep development has occurred within the months of March and April,” he added.
From January 2017, LG has moved fully to inverter ACs.
LG has a line up of round 50 AC fashions in 2017 and has inverter fashions starting from Rs 40,000 to Rs 56,000. It has 3 -4 fashions of window ACs additionally, which primarily cater to the Tier III and the entry-level section.
LG India, which manufactures total vary of ACs, can also be establishing a plant to fabricate compressors. This may make its ACs extra aggressive within the home market.
“We’re presently importing the compressors and planning to arrange a manufacturing facility quickly at our Higher Noida manufacturing facility,” he added.
The corporate presently sells its vary of AC from round 13,000 level of gross sales and has additionally entered right into a pact with e-commerce main Amazon India to faucet the rising on-line gross sales channel.