Demand For ACs, LED TVs To Grow With Work-from-home, Workforce Decentralisation: Sharp India

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According to the company, demand for AC has risen substantially from household customers and corporates

Sharp India, the Indian subsidiary of Japanese conglomerate Sharp Corporation said that work-from-home and decentralisation of the workforce have further increased the demand for air conditioners.

Besides, the Indian LED TV segment foresees “significant growth” in coming years and the demand is increasing “wisely”, said Sharp India in its latest annual report.

Preference for full high definition TV with better image quality, audio clarity, and colour resolution in the LED TV segment has raised substantially and reduction in the price has helped in the shift of trend.

“The demand of television section has resulted mainly due to nuclear families, up-gradation of technology, increase in the number of channels, web series and other modes of advanced entertainment. Electrification in rural areas has further boosted demand from rural areas,” said Sharp India while discussing Industry Structure & Development.

According to the company, demand for AC has risen substantially from household customers and corporates. The expansion of sectors like malls, hotels, the new industrial setup, retail outlets etc, has further boosted the demand for Air Conditioners.

“The main growth drivers of AC are increased in disposable income, easy finance options, acceptance as utility product than a luxury due to change in climatical conditions,” it said.

While talking growth of e-commerce into the segment, Sharp India said now the customers have more options and are attracted to online trading platforms wherein competitive prices are offered.

“Availability of various options and easy comparison between the same, easy return and replacement policies and a professionally managed logistics with an easy loan and convenient monthly instalments has boosted the demand of consumer goods in the Indian market,” it said.

In FY21, the company incurred a loss of Rs 18.49 crore and the accumulated loss as of 31st March 2021 is Rs 98.98 crore.

There was no production of LED TVs from April 2015 (except in August 2015) and of air conditioners since June 2015.

“The company continues to receive financial and operational support from Sharp Corporation, Japan, the majority shareholder and holding company,” it said.

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