With air-conditioners showing the most promising growth in the consumer durables segment, LG Electronics India has already chalked out its strategy for the next year. Apart from launching a gamut of new products, the company will follow a different approach by identifying niche segments and targeting them individually.
A major thrust next year, for instance, will be the commercial air-conditioners segment. In the earlier phases, LG’s focus was primarily on retail and corporate sales of windows/split ACs. However, LG has started aggressively targeting at the commercial ACs segment. It aims to capture about 20 per cent market share in the segment in the next calendar year.
The entire range of commercial air-conditioners will be available from LG by December this year, which would include four models in ductables and three in cassettes. Though currently the moulds for these ACs are being imported from Korea, LG may commence manufacturing these here, depending on the market response.
At present the domestic commercial air-conditioners market is growing at about 8-10 per cent per annum, and the major players in the segment include Voltas, Blue Star and Carrier.
The company will also be coming out with customised products for certain high-growth segments such as telecom companies, bank ATMs and so on.
For windows and splits, LG will also launch products catering to different segments of the market. LG also plans to launch a range of Internet-enabled air-conditioners for the premium-end.
LG is looking at sales of three lakh units next year from the estimated two lakh this year, as well as improve its market share by five per cent to 35 per cent next year.