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Videocon looking to double its market share in AC segment [India Business] [Times of India](Times of India Via Acquire Media NewsEdge) CHENNAI: Consumer electronic and home appliances company Videocon is eyeing to achieve 20% market share in airconditioner (AC) segment in two years, a statement from the company said. The AC market grew by about 10% last year across India, despite the slowdown in the economy, and this year too, the size of the market is expected to go up from 3.5 million ACs sold last year to 3.9 million this year. Videocon, expecting to capture about 15% of the market share this year, has launched a range of ACs with 'multi point cooling system' (MPCS) technology. With this, Videocon is bullish in increasing its market share and has been aiming to achieve 50% sales growth in airconditioner segment over the last one year, the statement said. "We primarily expect growth coming from the robust demand from urban population, which either looks forward to adding a new AC or replacing the old one. The first time buyers in tier II cities will be adding to the demand," Sanjeev Bakshi, COO, airconditioners division, Videocon, said. The new range comprises 32 new models in three colours - white (with pattern), red and silver. It will be available across the country by mid-April starting with metros and then followed by tier II and III cities. Videocon has customized its products to suit the different AC requirements in different markets of the country - the humid weather in the coastal west and dry heat in north India, according to the statement. (c) 2014 Bennett, Coleman & Company Limited |