Home
Global Supplier Directory
APPLIANCE Engineer
Supplier Solutions
APPLIANCE Line
Whitepaper Library
Calendar of Events
Association Locator
Contents Pages
Market Research
Subscription Center


 
Daily News

Haier India Aims for 15-Percent Market Share
Apr 15, 2004
 Printable format
 Email this Article
 Search

China's Haier, said the world's fifth-biggest white goods maker, hopes to own up to 15 percent of India's booming consumer-goods market and boost its fortunes in the face cutthroat competition at home.

India's consumer goods sector, currently worth U.S. $4 billion, is growing robustly as an increasingly affluent 300-million-strong middle class snaps up appliances.

India is Asia's fastest growing economy, having expanded 10.4 percent in the October to December 2003 quarter.

"We plan to contribute 7 to 10 percent to Haier's global turnover in 6 years time," Tarun Kumar Banerjee, president of Haier Appliances India, told Reuters in an interview. "That's at least a billion dollars, and I reckon that our market share in India should be around 12 to 15 percent down the line."

China's Haier group, which sells about half of its appliances overseas through retailers such as Wal-Mart, began selling air-conditioners, washing machines, refrigerators, microwave ovens, and televisions in India earlier this year.

"We can expect this market to double in the next five years," Mr. Banerjee said.

Haier, based in China's northeastern city of Qingdao, competes with the Indian units of South Korea's LG and Samsung Electronics, Whirpool, Philips, and domestic firms such as BPL Ltd. and Voltas Ltd.

Other consumer goods firms in the country include the Japan-based companies Sony and Hitachi and Electrolux AB of Sweden.

Mr. Banerjee said Haier was expecting sales of 3 billion rupees (approx. U.S. $68.5 million) in the first year in India, where the firm plans to invest $12 million initially.

Currently, Haier is importing high-end fridges, televisions, air-conditioners, and washing machines from China, while some smaller televisions and fridges are being sourced locally. The company plans to add mobile phones and computer monitors to its product offerings during the next few months. (Reuters)

Back to Daily News

 

Daily News

...........................................................

Aug 22, 2014: Could Quirky Acquire GE Appliances?

Aug 22, 2014: Existing Home Sales Up in July

Aug 21, 2014: Miele Annual Sales Up 2.2%

Aug 21, 2014: TTI Reports Record Sales

Aug 21, 2014: Stihl Annual Cycling Event Raises $539,000 So Far in 2014

More Daily News>>

RSS Feeds
.........................................................
Appliance Industry
Market Research

...........................................................

March 2014: Market Research - 62nd Annual U.S. Appliance Industry Forecast
February 2014: Appliance Magazine Market Insight: December 2013
January 2014: Market Research - Appliance Historical Statistical Review: 1954-2012
January 2014: Appliance Magazine Market Insight: November 2013




 
Contact Us | About Us | Subscriptions | Advertising | Home
UBM Canon © 2014  

Please visit these other UBM Canon sites

UBM Canon Corporate | Design News | Test & Measurement World | Packaging Digest | EDN | Qmed | Pharmalive | Plastics Today | Powder Bulk Solids | Canon Trade Shows