Page 3 - Home Appliances

Wedding season: Durable makers witness pickup in sales of products

Leading home appliance and consumer electronics makers witnessed pickup in sales in the wedding season, mostly on demand for entry-level mass products from non-metro cities of the hinterland. The industry, which concluded the festive sales with a growth of 15-20 per cent mainly driven by premium products, got a further boost during the wedding season. In November, after getting some initial responses, companies including LG, Godrej Appliances, and Panasonic extended their festive offers along with financing schemes on products ranging from washing machines, refrigerators, TVs, micro ovens to small kitchen appliances. Consumer Electronics and Appliances Manufacturers Association (CEAMA) President Sunil Vachani said the ongoing wedding season is anticipated to boost the demand for mass and entry-level segments of the industry. Many companies experienced a positive trend in November, thanks to the festive spirit of Diwali and the ongoing wedding season, he said. A survey by industry

Versuni witnesses great festival season with premium products driving sales

Taurani added that the festival season also reversed the post-Covid slowdown that the small appliances market was witnessing

Tata considering sale of Voltas home appliance business, say reports

Considerations are at an early stage and Tata Group may decide to keep the asset for longer, the people said. A representative for Tata Group declined to comment

Blue Star Q2 results: Profit jumps 66% to Rs 70.67 cr on strong demand

The company posted a consolidated net profit of Rs 70.67 crore for the quarter ended Sept. 30, up over 66% from last year. Revenue from operations rose 19.5%

Daewoo enters Indian consumer electronics market via Kelwon Electronics

South Korean brand Daewoo has entered into fast-growing Indian consumer electronics and appliances market through its licensee partner Kelwon Electronics & Appliances, which has plans to invest around Rs 300 crore in the next three years. Kelwon, which sells products, including Lithium Hybrid Inverters and LED TVs, will introduce products in sectors such as energy and power, and consumer electronics, under brand Daewoo - now owned by South Korean conglomerate POSCO DAEWOO. As per its marketing strategy, Kelwon would adopt a twin brand strategy, where it will place the products under Daewoo in the premium and mid-premium segment, while mass to mid-premium would be catered through its own brand, its Managing Director H S Bhatia said. Kelwon will initially get the Daewoo products manufactured locally here through OEM (Original Equipment Manufacturer), under the R&D and technical support from the South Korean brand. However, when the volume picks up substantially in the coming ...

Voltas working to transform into a full-fledged home appliance maker

Voltas is also reviving its plan to make AC compressors locally in partnership with a South Korean or Japanese firm

Appliances, consumer electronics sales likely to grow 20% during festivals

Buoyed by a good start with Onam in the southern markets, the appliances and consumer electronics industry expects around 18-20 per cent value-driven growth this festive season which is coinciding with the ICC Men's Cricket World Cup. The cricket World Cup tournament is coinciding with the festival season in India for the first time after 1987, and the industry expects the country's most popular sport to act as a catalyst, leading to growth in sales of TV, especially with bigger screen sizes as well as audio products such as battery-powered party speakers, soundbars, wireless headphones and ear buds. TV makers, including LG Electronic, Panasonic and Thomson, expect increased number of replacements of conventional and small-size TV screens with large-size smart TV panels above 55 inch screen size. Premium and ultra-premium ranges of QLED and OLED TVs are also expected to be in much demand during the World Cup from October 5 to November 19. The industry expects overall sales growth of

Dyson launches V12s Detect Slim Submarine cordless vacuum cleaner in India

Priced at Rs 62,900, the V12s Detect Slim Submarine vacuum cleaner is available for purchase online on Dyson website and at Dyson Demo stores

Centre working on quality control norms for home appliances: Report

The appliances have been grouped into six categories based on their usage and each category will have a separate Quality Control Order

Black+Decker announces licencing agreement with Indkal Technologies

Indkal's new collection of Black+Decker products will be available on amazon.in and flipkart.com, and in-store channels on June 3

Orient Electric Cloud 3 Fan review: Quite a mist-ical experience, literally

The Orient Electric Cloud 3 is a novel pedestal fan good for spaces where coolers and air conditioners cannot be installed. It is, however, not an alternative to any of these

Elista to invest Rs 250 crore to set up new facility in Andhra Pradesh

Electronics maker Elista India will invest Rs 250 crore to set up a manufacturing plant in Kadapa, Andhra Pradesh, in five years, which will help the company meet the domestic and exports markets demand, Chairman and Managing Director Saket Gaurav said. The investment for the new plant would be funded equally from equities and debts, as the company is in talks with some financial institutions, said Gaurav. "We plan to put our investment in a phased manner. Initially, we will be investing around Rs 50 crore, which will produce almost one million units of smart TVs and monitors," he said, adding, "in five years, we will invest almost Rs 250 crore in this facility." The company has plans to get into the production of home appliances like refrigerators, washing machines and dishwashers from this facility, said Gaurav, adding that it would create around 500 jobs. "The revenue which we can generate out of this plant would be close to Rs 1,500 crore (when fully completed), combined from .

TMS Ep380: Rise of Jio, cyber security, consumer appliances, passive funds

What's behind Jio's rise to world's second strongest telecom brand? Will cyber security create jobs? Is it time to bet on consumer appliance stocks? What is a passive fund? All answers here

Demand for heating appliances up 33% year-on-year, says Flipkart

The demand for the heating appliances segment in October-December 2022 has seen a 33 per cent jump compared to that of the same period a year ago, e-commerce major Flipkart said on Tuesday. The demand for heating appliances has reportedly increased across the country, including in tier-2, 3 cities and beyond such as Arrah, Darbhanga, Delhi, Gaya, Ghaziabad, Lucknow, Muzaffarpur and Patna, according to Flipkart. "The demand for the heating appliances segment has seen a spike of 33 per cent during October-December period as compared to the same period last year," Flipkart said in a statement. India witnesses a dip in temperature as the winter sets in early in certain parts of the country. According to insight from Flipkart, consumers are increasingly willing to spend on products with smart and safety features. "The demand for heating appliances has grown by a third among customers across the country and particularly in the North. We are witnessing a greater predisposition among ...

CES 2023: Samsung unveils QLED TVs, upgrades existing home appliance range

There were few big surprises and eye-popping innovations at Samsung Electronics' media events, where its latest home gadgets were on full display ahead of the opening of CES 2023

Refrigerator prices may rise up to 5% as BEE labelling norms kick in

Prices of refrigerators are likely to increase by up to 5 per cent as the revised norms of the Bureau of Energy Efficiency (BEE) have become applicable from January 1 this year. According to manufacturers like Godrej Appliances, Haier and Panasonic, implementation of the new norms may put an additional burden of 2-5 per cent on consumers, depending on the models. Besides tightening the labelling, the new norms also mandate separate star labelling for freezers and refrigerator provisioning units (storage part) of the frost-free models. "Now, we have to declare labelling for both. That is the new change," said Godrej Appliances Business Head and Executive Vice President Kamal Nandi told PTI. When asked about the price increase, he said: "In every energy efficiency tightening, cost inputs go up a little bit to achieve those efficiencies through better insulation and around 2-3 per cent price hike because of this will be happening, depending on various models and star ratings". Moreov

Global smart home devices market may shrink 2.6% to 874 mn units in 2022

Worsening macroeconomic conditions have led to a reduction in the outlook for global smart home device shipments

V-Guard Industries to acquire Sunflame Enterprises for Rs 660 crore

Deal likely to close by mid-Jan 2023, will be funded by mix of internal accruals and debt

Smart home appliances start-up Up raises $1.3 mn in pre-seed funding

Start-up's device assists people with no cooking experience by listing recipes, nutrition information

Home durables: Govt moves to protect consumers' right to repair-maintenance

The government has sent letter to 23 home appliance companies, including LG, Samsung, Havells, Philips, Sony, and Bluestar