February 25 2016, 18.22 PM IST || Pocket News Alert
Introduces Penta Inverter AC, World’s
first 1 ton and 1.5 ton 5-star Inverter AC
Ø Launches 2 new models under Inverter AC range
Ø Targets to be amongst the top three players in the AC segment
Ø Plans to increase its market share in Punjab & Haryana market to 12% from the current 8%
Chandigarh, 25 February, 2016: Videocon, the leading indigenous Consumer Durable and Home Appliances brand, today announced the launch of World’s first 5 Star rated Inverter ACs in 1 ton and 1.5 ton. Videocon’s Penta Inverter ACs are highly energy efficient. Unlike conventional ACs, Penta Inverter ACs keep varying it tonnages to maintain a set temperature without switching ON & OFF the compressor motor, thereby preventing unnecessary electricity consumption and subsequent increased expenses. With this launch, Videocon targets12%market share in AC category in Punjab & Haryana.
Yet another state of the art offering that has been added to Videocon’s diverse range of products, Penta Inverter ACs are all set to become the customer’s first choice in Air Conditioning segment. Owing to the R410 refrigerant, the innovative AC is extremely ecofriendly that does not aid the ozone layer depletion. The R410 refrigerant ensures faster heat exchange compared to other refrigerants thus, enabling faster cooling. With its precise temperature control and low sound level features, Penta ACs exude enhanced comfort to the users.
Speaking about the efficiency quotient, Mr. Akshay Dhoot, Head of Technology and Innovation, Videocon, said, “Inverter ACs are bought by customers who like to maximise energy savings. Hence Videocon's R&D team came up with India's most energy efficient Invert ACs, as per BEE standards. We are very excited with the launch of Videocon’s Penta Inverter ACs that target futuristic, evolved and conscious buyers. We understand the consumer mindset which echoes their requirements of having energy efficient products. This has inspired us to innovate and launch products which best suit the demand of our consumers who are looking for technology driven products yet willing to contribute to the environment by choosing the right product.”
The company will roll out two models in the Penta Inverter AC, all built with copper condenser in the capacity of 1 ton and 1.5 ton. The entire range will be available across the country by close of February, 2016.
Speaking about the launch, Mr. Sanjeev Bakshi, COO - AC Division, Videocon said, “We are optimistic of the current AC segment in the country and are all set to expand our AC portfolio to 500 products. With the launch of Penta Inverter ACs, we are expecting the overall AC sales figures to reach up to 6 Lakh
units this year. Further, we plan to increase our overall market share in the AC segment to 15% from the current 10%.”
Videocon will also be coming up with a special 360° advertising campaign that would be spread across all major media with a special focus on in-shop branding, to build top of mind recall. This will be further enhanced with the strong service support provided by the operations team at Videocon.
Key Business Facts include:
•The current market size for air conditioners (ACs) in India is around 4 million units. The industry is expected to grow at 15% CAGR with a penetration of about 3%
•The market size of ACs in India is likely to reach 10 million units by 2020 with a penetration rate of 11%
•AC market is dominated by split ACs, year-on-year Window AC market share is decreasing
•Almost 90% of the market share in split AC category is held by 1 Ton & 1.5 Ton ACs
•Price range (MRP):
◦1.5 ton 5Star Rated Penta Inverter AC – Rs. 47000
◦1 ton 5Star Rated Penta Inverter AC – Rs. 43000
About Videocon Group
Videocon Group is a global business conglomerate with a strong presence in Household Consumer Goods, Mobile Handsets, DTH, Retail, Oil & Gas, and the Power sector.
Videocon group has constantly leveraged a culture of innovation to develop a range of market re-defining products. The Group has 15 manufacturing facilities and 4 R&D centres spread across the globe that are constantly working towards creating global quality products deploying the most up-to-date technology.
Videocon has one of the largest distribution networks in India with a nation-wide presence of more than one lakh dealers.
