Monday, December 24, 2012: Carrier Midea, one of the country’s consumer appliances brands has decided to foray into white goods and small appliances segment with products like microwave oven, refrigerator, washing machines etc and the company is planning the production of these products at its newly built Haryana unit. The home appliances range will be sold only under the Midea brand.
“We have decided to launch microwave ovens and water dispensers from next month, apart from a big portfolio of air-conditioners comprising of 34 models,” said Krishan Sachdev, managing director, Carrier Midea India.
While the company will locally manufacture its air-conditioner range, it would initially import the appliances. “However, we firmly believe sustainability in business needs local manufacturing. So, we would eventually manufacture our home appliances range in India,” he said.
Carrier Midea India is a 60:40 joint venture company, which was formed earlier this year. The company is targeting Rs 10 billion revenue with both the Carrier and Midea brands.
Talking about the newly built plant, Sachdev said Carrier Midea India has already invested more than Rs 1.5 billion on the new plant and plans to shore up its total investment up to Rs 5 billion over the next five years. “This includes setting up a R&D centre and further expansion of the manufacturing line,” he said.
With its foray into the appliances segment, the company will compete with the likes of LG, Haier, Whirlpool and other known brands.
Electronics Bazaar, South Asia’s No.1 Electronics B2B magazine