Comments
Chinese air conditioner and home appliances maker Gree has entered the Indian market, launching its products here today through a tie-up with Servomax.
Servomax Group, a Hyderabad-based manufacturer of power engineering products with a turnover of Rs 600 crore, will be the marketing partner of Gree for the entire Indian market.
“We are breaking the market myth that Chinese goods are cheap. We are bringing in premium products that will be economically beneficial in the long run due to their power saving abilities,” Jimmy Jose, Gree India Managing Director, told said here.
Its current portfolio of offerings in the Indian market consists of residential TVs that have a price range of Rs 24,000 (three-star) to Rs 1.40 lakh (five star).
Gree has an annual manufacturing capacity of 60 million ACs in the residential sector and 5.5 million in the industrial and commercial segments.
“We see a lot of potential in the Indian market, as the current level of penetration for ACs is only three per cent. The market size is estimated at 3.5 million units per annum. We are aiming at a market share of 30 per cent within three years,” Fin, Assistant Sales Director of Gree, said.
The company has recently launched a new solar-based AC product for the Chinese residential market which it is trying to bring into India within a year.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.