Daewoo Anchor to launch thinking fridge

By Our Special Correspondent

CHENNAI, DEC. 13. Daewoo Anchor Electronics Ltd. is proposing to unleash on the Indian market a `thinking refrigerator' as part of its fresh initiative to consolidate its hold. The 650-litre digital refrigerator is expected to be launched next month. It will have seven sensors which can study the user habits and adjust its working according to customer needs.

Mr. S. H. Suh, Managing Director of the company, told The Hindu that the digital refrigerator would first be used in four markets - Chennai, Bangalore, Mumbai and Delhi. It would come with the Daewoo patented 3D cooling. Mr. Suh indicated that the `thinking refrigerator' would be priced above Rs. 65,000. This would obviously be targeted at the `elite class'.

Mr. C. S. Gourinadh, General Manager (Marketing and Sales), expected Daewoo Anchor to sell 100 pieces a month in India.

The digital refrigerator would be fully imported from Korea. Mr. Suh said the Korean parent of the Indian joint venture - Daewoo Electronics - was selling 1.5 lakh pieces of digital refrigerator annually in that country.

Since `the market has well accepted' the 430-litre deluxe refrigerator with stainless steel finish, Daewoo Anchor was proposing to extend stainless steel finish to couple of other models as well. By February, it would hit the market with 350 and 300 litre stainless steel finish refrigerators.

Even as it is in the midst of introducing new products into the Indian market, Daewoo Anchor, Mr. Suh said, was in the process of expanding the capacity of its plant near Pune to four lakh units a year by 2003 in two phases. The first phase, expected to be ready by April next, would see the capacity go up to 2.5 lakh units from one lakh units. The Rs. 40-crore capacity expansion plan would take care of both domestic and global markets.

Mr. Suh indicated that Daewoo Anchor would also get into the manufacture of direct cool refrigerator to cash in on the enormous opportunities in India. Mr. Gourinadh said direct cool refrigerator formed bulk - 85 per cent - of the sale in India. In fact, Daewoo Anchor managed to have presence in the direct cool segment by sourcing refrigerators from Godrej. Since it had planned to produce them, the company had discontinued its arrangement with the latter. The design was getting ready in Korea and production at its Indian facility would commence sometime next year.

Daewoo Anchor had estimated the refrigerator market at 3.2 million with frost free segment placed at just over half-a- million units. The market is estimated to grow at 10 per cent over the next three years. Mr. Suh said half of the planned Rs. 40 crore investment would go into the development of direct cool refrigerators.

Daewoo Electronics Mauritius holds 87 per cent stake in the company. The balance is held by the Mumbai-based Anchor Electronics and Electricals.

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