Whirlpool introduces new products for larger market share

March 22nd, 2012 - 7:56 pm ICT by IANS  

New Delhi, March 22 (IANS) Home appliances firm Whirlpool Thursday unveiled a new range of products in six categories priced between Rs.10,000 and Rs.1,00,000.

Whirlpool said it hoped to capture 25 percent market share by the year-end. The firm has around 18 percent market share at present.

“This launch is distinctive in its scale: the breadth of categories and the number of offerings are unprecedented and position Whirlpool to cater to every segment in the consumer pyramid,” said Arvind Uppal, chairman and managing director, Whirlpool of India.

“With this launch we are aiming for leadership in refrigerator and washers in the next 18 months and overall leadership in home appliances in the next 3 years,” he added.

The products include range of frost-free refrigerators (Neo iChill), direct cool refrigerators (Icemagic), split air-conditioners (3D Cool and Chrome Turbo), kitchen products (built-in oven, barbeque and hobs), WhiteMagic splitwash washing machines and MagiCook 1-2-3 microwave oven.

The new portfolio expands Whirlpool’s presence across multiple categories and the launch of products in premium and super premium price segments is an indicator of the opportunity it sees in emerging India, the company said.

The firm, a subsidiary of US-based Whirlpool Corporation, has also earmarked Rs.100 crore as total marketing and advertising spend for this year which would include television, print and online campaigns.

Whirlpool also said that owing to the excise rate hike the firm had hiked the rates of its products by 2 percent across select categories.

The firm admitted that this could lead to reduced consumer demand. “Price increase might affect the industry growth,” Uppal said.

Rajeev Kapur, vice president, marketing, said sales last year was impacted because of weak summer. “This year, we expect a growth of almost 4 to 5 percent.”

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