• Investment World
• eWorld
• Catalyst
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources

Group Sites

• The Hindu
• Business Line
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

The size of the Indian market for air-conditioners is expected to touch one million units.

Kolkata , March 18

LG Electronics India Pvt Ltd hopes to sell four lakh air-conditioner units in the domestic market in 2004. This will translate into revenue of Rs 850 crore. In 2003, LG Electronics India sold 2.8 lakh air-conditioner units in India, according to Mr Salil Kapoor, National Head of LG Electronics India's Room Air-Conditioner Division.

Stating this at a news conference held here on Thursday to mark the launch of the company's new range of air-conditioners, Mr Kapoor said the size of the Indian market for air-conditioners in the organised sector was expected to touch one million units in the current calendar year. Air-conditioner sales in India were expected to go up further to two million units by 2008.

In 2004, the high-end new range would account for 10 per cent of LG's air-conditioner sales. These air-conditioners were available at capacities of between one tonne and three tonnes and were priced in the Rs 23,000-Rs 66,000 range. 90 per cent of the new range was presently being imported from South Korea, Mr Kapoor said, and added that manufacturing the new range in India would be considered when sales volumes pick up. At present, LG Electronics has the capacity to manufacture six lakh air-conditioner units at its manufacturing facilities at Noida and elsewhere.

According to him, air-conditioner sales were expected to account for 25 per cent of LG Electronics India's total revenue by 2007. The company's share of the domestic market for air conditioners in the organised sector has presently been pegged at 31 per cent. This is expected to go up to 40 per cent during the year ending December 31,2004.

In 2003, LG Electronics India exported 75,000 air-conditioner units, mostly to neighbouring countries. In 2004, the company hopes to augment air-conditioner exports to 1,20,000 units, according to Mr Kapoor.

More Stories on : Outlook | Air-conditioners & Refrigerators

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Club Mahindra lines up new services for better experience

Copyright © 2004, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line