Financial Daily from THE HINDU group of publications
Wednesday, Mar 19, 2003
Financial Daily from THE HINDU group of publications Wednesday, Mar 19, 2003 |
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Marketing
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Market Shares LG tops sales in Jan Neha Kaushik
NEW DELHI, March 18 KOREAN consumer electronics major, LG Electronics witnessed formidable growth in CTV, washing machines and the frost-free refrigerator segments in January, and has emerged as the market leader in all three categories in the period. In the CTV category, LG had a market share of 16 per cent, and inked a growth rate of 57.9 per cent, according to ORG-GFK data for January. It was followed by Onida (with a market share of 12.8 per cent) and Samsung India (at 12.1 per cent). A major gainer in market share during the month was Sansui, which saw a growth of 52.2 per cent to garner a market share of 7.8 per cent. Meanwhile, while other Indian brands saw a dip in sales or only a marginal increase during January, Onida saw good double-digit growth of 37.6 per cent. Interestingly, the growth in value sales was much lesser than growth in volume sales for most companies, indicating a drop in prices and discounting on CTV sets. For instance, while the volume growth for LG was 57.9 per cent, the value growth was about 31.6 per cent. Similarly, Samsung saw a volume growth of 41.8 per cent and a value growth of about 26.7 per cent. In the washing machines market, LG emerged the leader with a market share of about 21.4 per cent and a 62.2 per cent growth. It was followed by Videocon (which had a market share of 20.3 per cent) and Whirlpool (with a 18.9 per cent market share). LG was also the leader in the semi-automatic washing machine segment with a market share of 25 per cent followed again by Videocon and Whirlpool. Meanwhile, in the frost-free refrigerators category, LG emerged as a clear leader, growing at 75 per cent to garner a 33 per cent market share. It was followed by Whirlpool (with a market share of 27 per cent) and Godrej (15 per cent).
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