LG Electronics has planned to increase its manufacturing capacity from 12 lac units per annum to 15 lac units per annum by the end of 2018. The company presently operates production units in Pune and Noida in India. Pune manufacturing facility caters to East and North parts of India, while the facility at Noida currently delivers to South and West. Currently, both these units manufacture 6 lac units per annum. Further, competition between leading manufacturers of air conditioning systems is projected to boost growth of global air conditioning system market. Apropos a report generated by Future Market Insight, the global air conditioning system market is estimated to exhibit double-digit growth rate during 2014-2020.
Vijay Babu, Business Head, LG Electronics India stated that they are expanding their manufacturing facilities to other countries as well however, domestic market secures key portion of the supplies from these plants. Further, the company is manufacturing inverters at these facilities. As Pune is close to southern market, company is not planning to explore any facility in southern region. LG clocked 8.5 lac AC units sales in the year 2017, raised 34% from 2016. According to the company’s statistics it procures more than half share of inverter AC segment and 19% share of the total room AC market in India. Further, in the first quarter of 2018, the company has observed 50% increase in sales. It presently has 19 5-star and 32 3 star models in the market.
LG Electronics India has recently launched air purifiers in Delhi and has sold nearly 1 thousand units there. The company is focusing on Hyderabad, Kolkata, Chennai and Mumbai to sale such units in second half of 2018. Further the company is aware of 2-3 players operating in this segment currently. It has employed 4 thousand technicians as well as 5 thousand sales professionals spread all over India and it is planning to expand its service centers across the country. Currently it has 12 service centers in Hyderabad, increased from 8 in the last year.
LG India Introduced 59 Inverter ACs
LG Electronics India has recently launched fifty nine inverter AC split models to add to its new series with the unveiling of its debut window inverter AC. With the launch of this new series, the company has estimated an increase of 40% in AC segment in 2018. Mr. Vijay Babu stated that in 2017 the company has witnessed a successful transition of their AC line up from regular range of inverters. Further, this helped company increase its market share by 53% in the inverter AC segment. He stated that with the launch of inverter ACs the company is likely to strengthen their market leadership in the inverter AC segment.
The company stated that its advanced dual inverter AC range is equipped with new features that incorporate pure copper covered with ocean black protection, which helps increase durability of the product along with R-410 green refrigerant gas that is environment-friendly.
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