Innovation in technology is the new mantra for white good manufacturers across the country to strengthen their market share. No wonder, major consumer durables players have lined up new technologies across all product categories for 2008 to have an edge over their peers in the highly competitive consumer durables industry that is growing at 12-15%.
?Tech savvy and design conscious Indian consumers are continuously looking for upgradation to high-end products and they do not mind shelling a little extra to get world-class technology being offered,? said R Zutshi, deputy managing director, Samsung Electronic.
While, maximum innovation is happening in the television category especially in the LCDs and plasmas that are expected to grow at 110% and 100% respectively in 2007-08, refrigerators, washing machines, air conditioners and microwave ovens are also being upgraded. Samsung Electronic India has recently come up with full HD F8 series in television and this will be followed by new 2008 LCD series in the second quarter of 2008. Its closest rival LG Electronics has recently launched the 32-inch plasma television, the smallest in the country, and hopes that the new product will help the company to capture a significant market share in the category.
?With the 32-inch plasma television, LG has entered the small screen plasma market and hopes to garner around 40% of the flat panel market by the year end,? says V Ramachandran, director sales and marketing, LG Electronic India Ltd.
Godrej Appliances have come up with new Edge range of refrigerators in the direct cool category in an effort to increase its market share. With step design freezer, convection control technology and thicker insulation, the company feels that the new product will help it acquire 25% market share by the 2008 summers when the demand soars.
