Although the Indian microwave market had slowed down last year, it is likely to pick up steam as the year progresses. Consumer durable majors like LG Electronics, Samsung and Godrej Appliances, targeting growth of anywhere between 22% and 50%.Companies aim to drive sales by introducing newer models, focusing on product innovation and a series of below-the-line (BTL) activities.

Rajiv Jain, LG Electronics India business group marketing head told ET “We are targeting sales of Rs 350 crore this year, up from Rs 285 crore last year. All our categories: solo, grill and convection are doing well. But, since local players are importing solo category microwaves from China to sell here, we are concentrating more on the upper-end models.”

Kamal Nandi, Godrej Appliances vice-president (sales & marketing) said the microwave category had been affected most by the slowdown since it is a lifestyle product. “However, as the economy improves, and is already showing signs of a revival, the category is expected to bounce back. Last year, our growth was 32%. This year, we expect an overall growth of 40%.” According to Mr. Nandi, the country’s microwave market grew 10-12% and was estimated to be around 1.2 million units last year. Godrej Appliances, which has a 6% share of the microwave market currently, is planning to increase it to 8-9% this year. “Our focus will be on product innovation and large consumer connects through BTL activities,” said Mr. Nandi.

Godrej is hoping to score with its new range high on aesthetics, and introduce more variants on its steam technology; LG is upgrading its 76 auto cook menu to 101 auto cook. In addition to this, Samsung has introduced two new models in the convection and grill categories. Samsung India deputy managing director R Zutshi said Samsung is expecting a 50%-plus growth in its microwave business this year. “We are targeting 2, 75,000 units in 2009, compared to 1, 75,000 units in 2008,” said Mr. Zutshi. He said the overall microwave market is expected to grow to around 1.5 million units this year.

According to Consumer Electronics and Appliances Manufacturers Association (CEAMA) secretary general Suresh Khanna, the microwave segment is anticipated to grow at 20% this year.

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Posted by Amrith K.A on 12 May, 2009 5:18:13 PM IST #