Seeking to expand its presence in the consumer electronics portfolio, Micromax has come up with a new range of air-conditioners and is aiming to capture a market share of 10 per cent in the coming three years.
“We are expecting a market share of 10 per cent in coming three years time,” Sunil D Sharma, Business Head- Consumer Electronics, Micromax, said here today.
The company introduced ACs as a pilot project last year in June-July (2016) and this will be the first year to see a complete line-up of ACs from Micromax, he said.
The present size of air-conditioners market in the country is 40 lakh units and in the range of Rs 13,000 crore to Rs 15,000 crore, he said.
The investments made into the AC products is “substantial” and it is a continuous process, Sharma said. Micromax has manufacturing plants in Rudrapur, Bhiwadi (Rajasthan) and in Telangana.
“We are expanding categories of our products and we have plans,” he said, when asked about plans to open new plants but did not elaborate.