Electronics major LG India has moved to energy-efficient inverter air conditioner and expects 30 percent sales growth in the segment next fiscal.
"Since January 2017, LG India's all air conditioner (AC) products are based on inverter technology. We are targeting 30 percent growth in AC sales in the next financial year and 28 percent market share," LG India Business Head (Air Conditioners) Vijay Babu said.
He said LG India sold 7.5 lakh units of AC in the previous season and had 22 percent market share. He, however, did not share LG India's AC division sales turnover in the previous fiscal.
The inverter technology-based ACs are energy efficient but they are expensive compared to regular ACs.
Elaborating on the move, he said: "While it was a challenge to move 100 percent to inverter technology, but we have communicated to our trade partners about the savings customer will make through these products. In the last two months of 2017, our AC sales have grown by 45 percent." At present, inverter technology-based ACs account for 12 percent of overall sales in India as against over 60 percent globally.
The company has launched 45 new models of residential ACs on dual inverter technology, priced in the range of Rs 36,000 to 54,000.
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