Hitachi bullish on India AC market, launches new products

New Delhi, January 25 (Agencies): Japan’s Hitachi on Monday introduced its new range of air-conditioners, equipped with unique ‘i-Clean’ automatic filter clean technology and priced between Rs.19,990 and Rs.49,990. The company is hoping to increase its market share from 7 per cent currently to 15 per cent by 2015.
Hitachi has a dealer network of 1,500 outlets, which is being expanded to 3,000 in this year. It is also increasing the exclusive company-owned showrooms to over 50 from 32 stores. It has earmarked funds worth Rs.25 crore for 2011. India’s AC market is currently at 32-lakh units annually, which is valued at Rs.5,500-6,000 crore, and is growing at about 20% every year. The company has its manufacturing facility at Kadi in Gujarat with an installed capacity of 4-lakh units a year. According to HHLI Executive Director (Corporate Affairs) Amit Doshi: “They have decided to hike the prices of its entire range of products by up to 4% in order to minimise the impact of increasing raw material costs that was affecting our margins.” He further informed that the company would be strengthening its workforce by over 40 per cent or adding another 1,000 employees to cater to the growing demand.