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Korean consumer electronics brand Samsung plans to ramp up its washing machine portfolio in India and be present across all price points.
The company enjoys a 24-25 per cent market share in ₹11,000 crore washing machine market in the country. Apart from Samsung, other major players in the category include IFB, Bosch, Whirlpool, LG and others.
According to Maneesh Sharma, Deputy General Manager, Consumer Electronics Business, Samsung India, the idea is to gain market share by being present across all price points.
“We are ramping up the portfolio in order to gain market share. There is scope of growth in the category,” he told reporters on the sidelines of the launch of its new ‘All-in-one’ washing machine range.
Earlier this year, Samsung entered into the mass segment with a portfolio expansion of its semi-automatic range washing machines. It starts from ₹9,500 and finds demand across rural and tier-II, tier-III and tier-IV markets.
“We started ramping up the portfolio this year onwards as there is a good demand in rural and smaller markets,” Sharma said.
The company is looking at the mid-premium and premium range that includes top-loaders and front-loaders. These find demand across metros and big cities. Samsung has a 28 per cent market share in the premium segment that includes top and front load washing machines.
Compared to semi-automatics, the premium end is witnessing a faster growth. Growth in the top-loader category is growing at 11 per cent, while in the front loader it is around 18-20 per cent.
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