New Delhi, Aug 27 (PTI) Consumer Electronics maker Samsung India on Tuesday launched a new range of AI-powered washing machines and aims to be the market leader in the premium segment in the coming quarters, said a company official on Tuesday.
The company, which currently holds around 20 per cent of the washing machine market, has “an objective of becoming a consumer leader” by gaining market share quarter-on-quarter, outpacing the industry growth, said Samsung India Senior Director, Digital Appliances, Saurabh Baishakhia.
Samsung expects new launches, the ongoing trend of premiumisation in the appliances segment and the coming festive season this year and tailwind from attractive financing schemes breaking down acquisition costs will help it gain in the segment and claim market leadership, he said.
“We have 20 per cent market share and are looking further improving it. We aspire to become a brand that is bought by most consumers,” Baishakhia told PTI.
At present, South Korean maker LG Electronics is the leader in the Indian Washing Machine segment, with over 35 per cent overall market. In the washing machine vertical, brands like Haier, Bosch, Siemens, IFB, Godrej Appliances, and Whirlpool of India compete with Samsung.
Samsung is looking at the new consumer trends, where people are upgrading and replacing, opting for a higher capacity washing machine of over 9 kg, which currently contributes 40 per cent of the front-load model sales.
As per its strategy, Samsung is focusing on the front-load washing machine. Within this, models with a load capacity of nine kg and above are having a higher growth of 50 per cent, said Baishakhia.
“So, people are already paying a premium in this industry for a large capacity of nine kg. We are doing is democratising it further by giving them even a larger load,” he said, adding that the demand for the large sizes is growing because of changes in lifestyle besides growing urbanisation and rise in disposable income.
Consumers are paying around a 5 per cent premium on the addition of every one kg load capacity. However, Samsung is a 12 kg capacity washing machine with a 10 per cent premium only against a 20 per cent market trend.
“We have got the inflection point to almost half of it, which means that even at a premium of 10 per cent, they will not only get a larger capacity size but also get all these features,” Baishakhia said.
The Indian washing machine market is estimated to be around 10 million units annually, growing in single digits. Semi-automatic machines are still popular in rural markets, but full automatic front load and top load models are catching up now.
When asked if Samsung would have a leadership position in the premium segment of Washing Mahchine over Rs 30,000 plus per unit, Baishakhia said the company would.
“For us, our first target is to become a leader in this front-loading segment… So, our current goal would be, as to how, in this category, we can gain the highest market share and lead the market,” he said.
Samsung has claimed that its new AI-powered line-up of 10 large-sized front-load washing machines of 12 Kg will help to reduce energy consumption by around 70 per cent and be a “game changer”.
These machines with larger drums will reduce the wash timing to 39 minutes as the AI will detect the fabric and water turbidity and also decide on the perfect amount of detergent and fabric care.
“Through this AI energy mode, we will be reducing energy consumption by more than 70 per cent. So, it will also be adapting to the consumer habit, with habit learning to suggest what kind of cycles suit most washing times,” he said, adding that users will also have seamless information exchange through Samsung’s app. PTI KRH KRH BAL BAL
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