Home-grown home appliances company Videocon is looking to capture 13% market share in the Indian air conditioner market by the end of financial year 2017 with the launch of its first hybrid solar air conditioner range for the households and institutions.
At present the company claims to have 9% market share in the air conditioning segment.
“We are expecting to sell 6.5 lakh units of air conditioners this year and plan to increase our market share in the AC segment to 13%,” said Sanjeev Bakshi, COO-AC division at Videocon.
The hybrid solar AC by Videocon utilizes the energy from solar power to allow 100% power savings in contrast to the energy guzzling conventional ACs, the company said. However, if ever required it automatically shifts to regular electricity supply.
Videocon has rolled out 2 new models comprising of 1 ton and 1.5 ton, in the solar hybrid AC range and both the models comply with BEE star ratings and possess 5 stars. The new range is priced at Rs 99,000 and Rs 1,39,000 respectively.
““With the excessive consumption of power and increase in carbon emission, ‘Going Green’ is the need of the hour. Today it is imperative for the brands to innovate in the direction of utilising more and more renewable sources of energy, and with the launch of solar hybrid AC, we feel contended. With the ability to be operated with naturally obtained energy, solar hybrid AC is the future of air conditioner technology,” said Akshay Dhoot, head of technology and innovation at Videocon.