The Hindu Business Line : Anchor Daewoo to roll out new products; plans new facilities

ANCHOR Daewoo Industries Ltd is set to pitch "aggressively" for a bigger slice of the fast-growing consumer electronics market in the country. It is launching a slew of products including two new models of flat televisions, a DVD and a 750-litre side-by-side refrigerator to coincide with the onset of the festive season.

The company, which has manufacturing facilities for refrigerators and colour TVs at Ranjangaon in Pune and Noida, is to expand its product portfolio and will manufacture air-conditioners and microwave ovens from these facilities in a few months, Mr Anil Chopra, National Sales Head, said. The company is also investing Rs 100 crore in a phased manner to set up manufacturing facilities in Gujarat (Bhuj) and Uttaranchal, Mr Chopra said. He said this would give the company the required volumes to compete in the market.

Anchor Daewoo currently has capacities to manufacture 2.5 lakh units of refrigerators, 2 lakh CTVs and 1 lakh units of washing machines and microwave ovens each.

Mr Chopra said the company, which initially entered the market as Daewoo Anchor Electronics in 1996, is now re-launching its product portfolio and adding to its product-line to tap the domestic market. It will target both the mass and premium segments of the market with a strategy to manufacture mass-market products locally and import premium products.

Some of the products such as frost-free refrigerators (with above 300-litres capacity) and microwave ovens are currently imported from Korea.

The company is betting on the festive season to significantly increase sales and establish its brand in the minds of the consumers, said Mr Chopra.

"With our shankh bajao, inaam pao promotional scheme, we expect to rake in at least Rs 60 crore between October and December."

More Stories on : New Products & Services | Consumer Electronics

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Babes in the advertising wood

Cartoon Network adopts new rating mechanism for ads

IOC, JK Tyres ink pact for customer loyalty schemes

Aerens launches jewellery mall at Gurgaon

Rajkamal Electronics outlet

NRSC widens sample size

Ad avoidance highest among key target groups, says study

Tata Indicom launches `Walky'

Network Security launches products

Natco Pharma launches cancer drug

Anchor Daewoo to roll out new products; plans new facilities

AirTel makes a call in J&K