Orient Electric launches inverter coolers; targets to double market share in 2 years
Business

Orient Electric launches inverter coolers; targets to double market share in 2 years

Agency News

Hyderabad, Mar 4 : Orient Electric Limited, part of the diversified USD 2.4 billion CK Birla Group on Wednesday launched its new range of energy efficient inverter air coolers powered by Electronically Commutated Moror Technology (ECMT) which provides upto 50 per cent power saving.

Speaking to newsmen after the launch, Orient Electric Limited Managing Director and CEO Rakesh Khanna and Business Head, Home appliances Salil Kapoor said that at present the company has 12-13 per cent market share in cooler segment. With this new launch, the company has targeted to achieve 25 per cent market share during the next two years. The total Indian market size was Rs 2200 crore, they said. They also indicated that the company will set up a green filed manufacturing unit in South India soon.

Speaking on new launch, Mr Rakesh said, “ India’s energy and electricity demand continues to grow and thus arises the pressing need for energy efficiency and conservation. Our new range of energy saving ECMT powered inverter air cooler is another step in the same direction. These coolers have been developed based on the strong consumer need identification of energy efficiency with 50 per cent power saving, high-thrust air delivery, silent operation and convenience of control through IoT and voice controls. Inverter technology in coolers will not only help in saving the environment but also electricity”, he added. (UNI)

pennews
www.pennews.net