Advertisement

HindustanTimes Thu,10 Jul 2014

Haier aims to increase revenue sixfold by 2017

HT Correspondent, Hindustan Times  New Delhi, March 18, 2013
First Published: 22:18 IST(18/3/2013) | Last Updated: 22:21 IST(18/3/2013)

Chinese consumer durable maker Haier aims to increase its revenue over six times by 2017 on the back of promising growth prospects from its product expansion strategy.

Advertisement

“By the end of next five years, our target is to touch the turnover of Rs. 7500 crore, against the current Rs. 1200 crore turnover,” said Eric Braganza, president, Haier Appliances India. “The growth will be driven by our recent launch of almost 80 new products across air-conditioners, water-heaters, refrigerators, consumer electronics and commercial freezers.”

The company is also eyeing one of the top three positions in the Indian white goods market, which is currently dominated by players such as Samsung Electronics, Sony India and Panasonic India.

 “Our plan is to grow our overall market share to 10% from the current 4% in India and be among the top three brands in the next five years,” he said.

To support the aggressive growth plans, the company is also looking at expanding production capacity and distribution network.


Advertisement
more from Business

Analyst comments: FM Jaitley pegs fiscal deficit target at 4.5%

Finance Minister Arun Jaitley said the country will stick to the fiscal deficit target of 4.1% of gross domestic product (GDP) set by the previous government for the year ending March 2015. Jaitley added the fiscal deficit would narrow to 3.6% of GDP by fiscal 2015/16 and to 3 % by 2016/17.
markets
Advertisement
Most Popular
Advertisement
Advertisement
Copyright © 2014 HT Media Limited. All Rights Reserved