The Hindu Business Line : Philips sees potential in kitchen appliances segment

New Delhi, Oct.31 Philips Electronics India on Wednesday launched its hands-free food processor, with the aim of capturing 20-25 per cent share of the domestic juicer mixer grinder market.

“India is one of the fastest growing for the company. According to industry estimates, the small domestic appliances industry is estimated to be around Rs 5,000 crore, with the juicer mixer grinder market at around Rs 1,200 crore. In fact, within this industry, different elements in the kitchen appliances segment is growing between 6-12 per cent, which represents huge potential for us,” said Mr Murali Sivaraman, CEO, Philips Electronics India.

Mr Rakesh Sharma, Head, Domestic Appliances and Personal Care Division, Philips Electronics India, said, “With the launch of this product, we further extend our range of health enabling kitchen appliances and are confident of capturing a substantial share of the over Rs 1,000-crore food processing appliance market, which is growing at a rate of 15 per cent per annum.”

The company will use above-the-line methods such as a television and print campaign as well as below-the-line methods such as in-shop demonstrations. The food processor will have three models, priced at Rs 4,995, Rs 5,995 and Rs 8,595.

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