New Delhi: LG Electronics India Pvt. Ltd, the Indian arm of South Korean consumer durables firm LG Electronics Inc., entered water purifier market in the country with high-end reverse osmosis (RO) purifiers.
LG’s products are aimed at the urban premium consumers with a hot and cold water variant priced at Rs 39,990 and the normal and cold water variant priced at Rs 34,490.
India’s fast-growing water purifier market is currently estimated at Rs2,000 crore and is growing at 18%.
LG’s products come close on the heels of water purifiers launched by inverter makers such as the Okaya Power Group and the Luminous Group in the last six months.
Rajeev Jain, business head, home appliances, LG Electronics India, said RO is the fastest-growing category in the water purifier segment and that the company was offering a luxury brand in the segment.
Eureka Forbes Ltd launched a similar product, called Purochill, in 2007, priced at Rs29,000, said Marzin Shroff, chief executive and senior vice-president for marketing. The product received a lukewarm response, said Shroff. “Consumers still look for an efficient machine that performs the core function of purification,” he added.
While RO water purifiers cost between Rs 10,000 and Rs 17,000, companies such as Tata Chemicals Ltd have launched non-electronic products ranging between Rs499 and Rs999 that use nanotechnology.
Sabaleel Nandy, general manager of Tata Chemicals’ water purifier business, said maximum growth in the market is from the low-priced offline purifiers. India is under-serviced in the water purifiers market, with less than 2% of India’s more than one billion population purifying water before drinking.