Samsung targets No. 1 spot in Indian AC market in 3 years

South Korean consumer electronics major Samsung is embarking on an aggressive expansion in the air conditioner market in India with an eye to become number one player in the segment over the next three years, according to a senior company official.

The company, which has been selling only select inverter air-conditioners (AC) in India, is widening its product offerings with plans to enter window AC and re-enter non-inverter split AC segment as part of the programme.

Currently, a distant follower behind the likes of Voltas, LG, Hitachi, Blue Star and Haier, Samsung India has created a separate vertical for AC -- heating, ventilation, and air conditioning (HVAC) -- by clubbing together residential AC (RAC) and system AC (B2B) in order to achieve its 2022 target.

"Our objective is to become number one in the RAC segment. By 2022, we will achieve that by doubling our sales every year. Every year, we are targeting 100 per cent growth in 2020 and 2021 to reach our objective of number one by 2022," said Samsung India Senior Vice-President, HVAC division, Consumer Electronics Business, Rajeev Bhutani.

He, however, did not share the company's current volume but as per an industry estimate, Samsung's annual AC sales in India stand at around 3 lakh units.

In order to achieve the target, he said, "We will be launching new product categories in the inverter segment. We will re-enter into the on-off segment, which is a non-inverter in the split AC category. Also, we will enter window ACs. That will complete our product portfolio from a consumer perspective."