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Hyundai Electronics lines up aggressive entry into durables market

15-April-2005
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Hyundai Electronics lines up aggressive entry into durables market

After venturing into the AC segment recently, Hyundai Electronics India has earmarked a budget of Rs 40 crore for promotional spends in the current fiscal to launch its DVDs, refrigerators, home theatre systems, plasma and Slim TV sets, etc..

Starting this month, the company plans to launch a new range of split ACs as well as new DVD models with 5.1 channel priced at Rs 4,990. On the anvil are a 22" Slim TV set and home theatre systems, which are slated for launch in May.

New models of high-end 22" and 29" Flat TVs, Plasma TVs and LCDs will be launched in July while in October, the festival season, the company plans to introduce refrigerators and microwaves in the market.

On the marketing strategy for its launches, Pavan Bhargav, COO, Hyundai Electronics India, said, "We would be going for all the three promotional vehicles, be it print campaigns, TVCs or outdoors. The idea is to create awareness about the unique concept of the brand and our products."

Currently present in 250 cities, the company aims to reach to 350 cities by the year-end and has earmarked a budget of Rs 40 crore for promotional spends in the current fiscal, informed Bhargav.

"We are targeting a market share of 7 per cent in the Rs. 4,000 crore Flat CTV market, while the targets for ACs and DVDs are 7 per cent and 10 per cent respectively," said Bhargav.

Priced at Rs 16,000, the Slim TV is claimed to be a first in India.

Said Bhargav, "The name Hyundai Electronics stands for innovation and advanced technology. Slim TV is a Flat TV with very slim rear. It will be launched in India for the first time. The idea is to simultaneously offer in the Indian market world class products that we launch in the global market."

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