New Delhi: Riding on robust growth driven by new launches, Chinese consumer goods maker Haier expects to cross a turnover of Rs550 crore in India this year.
The company, which clocked a revenue of Rs325 crore in the previous year, is striving for a 70% growth in its revenue in the current year as it announced the launch of a slew of products and product ranges coupled with aggressive advertisement campaign to achieve the target.
“This year, as Haier is introducing some new products and at the same time it is expanding some of the existing product range, we are expecting our revenues to cross Rs550 crore,” Haier Appliances (India) whole time director & COO Pranay Dhabhai said while announcing the launch of new products here on Thursday.
The company has launched a new range of air conditioner comprising 16 split AC models and nine window AC models. It also introduced nine new refrigerator models, in both frost-free and direct-cool categories, besides a new range of washing machines and LCD television sets.
Haier is targeting around 8% market share in refrigerator segment and 10% market share in the AC segment in the current year.
“We are targeting a sale of one lakh units in washing machine and two lakh units in the TV segment,” Dhabhai said.
The company also plans to launch an aggressive ad campaign in the country, with Rs23 crore to be spent in the next two months for promoting sales.