LG Electronics could report a sustained growth in sales of air-conditioners despite a stagnant market in general in the last 2-3 years, according to Saurabh Baishakhia, Business Head, Air-Conditioners. Addressing presspersons here on Wednesday, he said the market share for the company in South, at 26 per cent, was more than its national market share (23 per cent). With the presence of more than 30 players in the air-conditioner segment, the competition was hotting up. The company was eyeing more than 25 per cent market share in 2013, he said.
The company also announced the launch a new range of air-conditioners in the Split AC, window AC, Inverter V and hot n cold split AC segments with 68 new models.
According Sanjay Chitkara, Head, Corporate Marketing, split ACs were highly popular in South India, and more than 90 per cent of split ACs were sold in the south. In the North, window ACs were still popular with a big replacement market. This trend would continue for the next 2-3 years, and the future would be for split ACs and those based on the revolutionary inverter V technology, he said. (the inverter technology is designed to give energy saving up to 66 per cent and provide airflow up to 30 feet).