Micromax to Enter Refrigerators, Washing Machines Segment in India

6 months ago admin Comments Off on Micromax to Enter Refrigerators, Washing Machines Segment in India
Micromax Informatics Ltd. has announced that the homegrown company will be entering the refrigerator and washing machine segment in India. Targeting the mass segment, Micromax will launch 8 models of refrigerators, 16 models of Washing Machines, 10 models of air conditioners and 8 models of air coolers. With this diversification, the company aims to achieve 2000 crore revenue by 2020, with a 30 percent share for Consumer Electronics segment by March 2019.

With this launch, the company is expanding its product portfolio. For Refrigerator and Washing Machine category, Micromax will be aiming for 3 percent market share in the first year, 5 percent market share in the second year and 7 percent in the third year. The company is planning to launch Semi-automatic washing machines and Direct Cool Refrigerators by March 2018.

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Commenting on the launch, Rajesh Agarwal, Co-founder, Micromax Informatics Ltd. said, “With our new category and expansion of our existing products, we are working towards becoming a leading consumer electronics brand and are very confident that 2018 will be a landmark year for us in this segment.”

As per the company, it has already invested around 300 crores in the last 2-3 years and is planning to invest around 200 crores more in the next couple of years. Micromax has also set up dedicated service centres and a special customer service application for the new product segment to take care of the after-sales services.

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