In a bid to upgrade its air conditioners range with new technology and enhanced media spends, Videocon Industries has invested over Rs 100 crore. With a single digit market share at 8% in air conditioners segment, the home-grown company is hoping to double this share on the back of its new ‘Wi-Fi enabled’ AC range which can be controlled using a smartphone app.
Pegged between Rs 35,000 to Rs 41,000, the Wi-Fi range of split air-conditioners are being manufactured at Videocon’s Aurangabad plant and will also be exported to West Asia and the Saarc nations. The company has already assigned Rs 60 crore for R&D spends for this range and has assigned another Rs 45 crore towards advertising and marketing spends this summer for the category.
With 6,000 dealers and 586 after sales franchises, Videocon Industries is also tapping into the online space by selling through its own site as well as other portals.
Videocon Industries, established two decades ago, is a global conglomerate. Videocon’s businesses consist of manufacturing, marketing and distribution of consumer electronics products and oil & gas extraction.