LG is loosing its dominance over white goods slowly. According to a recent research by GfK Nielsen India Voltas replaced LG’s No.1 position in the 7000 crore air conditioner market. Good time for Murthy’s All weather AC!!
It seems like ‘Murthy’s All weather AC’ has started showing its effect on the market in terms of market share. Analysts GfK Nielsen India reported that Volta’s market share in multi-brand outlets stood at 18.35 for the month of May against LG’s share of 17.7%. During 2011, at the same period, it was LG who was scoring in the market with a share of 22.6%. Just imagine the desperate fall!!!…A good reason to believe that LG is loosing their market.
Another interesting statistics I got from the research is that Panasonic is not far behind Samsung who is positioned third in terms of market share in the air conditioner market. Panasonic has succeeded in doubling its share to 9.9% within 10 months whereas Samsung’s market share slammed to 10% when compared to 14.5% last year in July 2011. Another brand that is popping its head in the market is Hitachi with 7.3% market share. Last year in July their share was 5.2%.
The statistics gives me a feeling that upcoming brands are doing good jobs than the biggies. The fall in the share of Samsung is because of their exit from Window AC segment as per the report. Success of Murthy’s AC can be attributed to their competitive pricing, product innovation like AC that suits all weather and their strong position in window AC market.
As soon as the announcement was made, there came response from LG stating that the numbers were not true representation. They clearly defied the findings of the analysts stating that they should have considered the volume in their exclusive brand stores. But, according to COO of Voltas, No.1 position in multi-brand outlets is what all matters. Any way, new findings have set a war in the market. Let wait and watch who is gonna win the battle….
