Haier eyes 10-12 pc market share in washing machine segment in 2022

Washing machines with higher capacity of 10 Kg and 12 Kg are imported, he added. Recently, South Korean consumer electronic products maker LG and Samsung have also introduced their lineup of washing machines with AI IoT features in the Indian market targeting the mid and premium segment.

Haier Appliances India is aiming for 10 to 12 percent of the market share in the washing machine segment this year as the consumer durable maker is expanding its product lines as well as retail presence across channels.

The company, which on Wednesday introduced a new range of future-ready smart, artificial intelligence- and IoT-enabled fully automatic washing machines, has plans to increase its shop presence and spend on brand campaigns to woo customers in its folds.

Currently, Haier's washing machine range is sold through 18,000 to 20,000 stores and the company plans to increase this to 27,000 outlets, said Haier Appliances India president Satish N S.

''Presently in the washing machine segment our overall market is around 7-8 percent and we target to take it to 10 to 12 percent by the end of 2022, helped by the new launches,'' Satish N S told PTI.

The Indian washing machine market size is estimated to be around 9 million units per annum. It is almost equally split between semi-automatic and automatic categories with 4.5 million units each, he said.

''In the automatic category, around 2 to 2.5 million is mid and premium segment. This could be top-load and front-load, depending on the models,'' Satish added.

Haier, through its new AI-enabled smart range of washing machines, is targeting the mid and high segment, besides others.

''Top 5,000 outlets which contribute majorly to the premium segment, where we will invest on the shop floor,'' he said.

As part of its strategy, Haier is also focusing on digital marketing and would invest around Rs 15 to 18 crore in promotional campaigns.

Besides, Haier is also focusing on the replacement opportunities in the washing machine segment.

''People who had bought washing machine 6-7 years backs, most of them have money and are ready to pay for more comfort and something different,'' he said, adding, ''For them, I do not have to sell a washing machine but a feature now.'' It also launched a new top-load washing machine with in-built heater technology.

In the washing machine, Haier has a lineup of around 85 to 90 models, said Satish, adding most of them are manufactured locally at its plants at Pune and Noida.

''Now washing machines having double drum are only imported. Washing machines with higher capacity of 10 Kg and 12 Kg are imported,'' he added.

Recently, South Korean consumer electronic products maker LG and Samsung have also introduced their lineup of washing machines with AI & IoT features in the Indian market targeting the mid and premium segment.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)