- Samsung aims to be in the top three in the next two years and become number one by 2022
- The company will expand its network from 9,000 outlets to 14,000 pan India in the first half of 2020
According to a report by IANS, a senior company executive has informed that Samsung India is renewing its focus on the air conditioner (AC) business in India and aims to become the top player in the country by 2022. Samsung is aiming to double its AC business every year over the next two years and expand its product portfolio.
Rajeev Bhutani, Senior Vice President, HVAC division, Consumer Electronics Business, Samsung India, told the news daily that their objective is to be in the top three in the next two years and become number one by 2022 and they are very confident of achieving this as we become a full-range player in the AC business.
Growing at a fast rate over the last few years
As per the report, the AC business in India has been growing at a fast rate over the last few years. In 2019, it grew at around 25 per cent and is expected to maintain similar growth levels in 2020. Changing lifestyles, urbanisation and higher electrification are some of the reasons which are responsible for this growth.
Samsung informed that it will expand its inverter AC lineup and make a re-entry into the window AC and on/off AC segments in 2020, thereby addressing 100 per cent of the Indian market.
The report also mentioned that Samsung has set up separate heating, ventilating and air conditioning (HVAC) HVAC division within its consumer electronics business. This includes both room ACs and commercial ACs.
The company will expand its network from 9,000 outlets to 14,000 pan India in the first half of 2020, strengthening its retail and distribution. Samsung will also set up 300 exclusive HVAC stores in 2020, which will showcase Samsung AC both for homes and commercial uses, offering completed solutions.