Haier to boost India capacity
Haier India is stepping up its efforts to capture a larger pie of the R35,000-crore annual market share of the consumer electronics segment in India that is growing at 12-13 % a year.business Updated: Jan 16, 2011 21:10 IST
Haier India is stepping up its efforts to capture a larger pie of the R35,000-crore annual market share of the consumer electronics segment in India that is growing at 12-13 % a year.
The Chinese consumer electronics firm, which till 2008 had a market share under 2%, is aiming at a market share of 5% by the end of FY2011.
The company has set a target turnover of R1,700 crore in FY 2011, nearly double of its India turnover in 2010 (between January and December).
“The year 2010 ended on a positive note for us with over 135% growth over 2009, ,” said Eric Braganza, president, Haier India. “In the initial six years of Haier India’s existence, the thrust was to position its presence in India. Our plans are now on course and we are looking at expanding our retail presence and roll out a complete portfolio of products.”
The company has a manufacturing facility in Pune for refrigerators and washing machines. In two years, it is aiming to ramp up manufacturing capacity to manufacture a wide range of products —from refrigerators, LCD and plasma TVs, washing machines and airconditioners. The idea is to provide a complete basket of consumer electronics products. It has also launched laptops and digital compact cameras.
Haier still has a low retail presence in India. It aims to have 325 exclusive retail outlets in two years time. At present it has 85 such showrooms in the country.
(The reporter's travel, stay and hospitality in Goa was sponsored by Haier)