Sunil Bharti Mittal-led conglomerate Bharti Enterprises and private equity firm Warburg Pincus will collectively acquire a 49 per cent stake in Haier Appliances India, the local unit of China's Shandong-based Haier group, for an undisclosed amount. The transaction, according to industry sources, values the company at about 15,000 crore.
Haier's latest H5E range arrives in four sizes: 43-inch, 50-inch, 55-inch and 65-inch.
With bouyant demand in domestic market, increasing exports, the co would need to set up a second manufacturing plant in about three years.
Prices of televisions are expected to rise by 3-4 per cent from January next year on account of the rising cost of memory chips and depreciation of the rupee, which recently crossed the 90-to-a-dollar mark for the first time.
Chinese consumer electronics firm Haier has taken the wholly owned subsidiary route to return to India, about two years after the distribution alliance with a local partner was terminated.
Haier Appliances (India) Pvt Ltd, a wholly owned subsidiary of Chinese white goods major Haier Technology, is planning to enter the Indian market in a big way by launching models across various product categories.
For LG Electronics India, the Rs 11,607 crore initial public offering (IPO) is not just a fundraising exercise. The company's senior executives describe it as a step towards becoming "future-ready", showcasing financial strength while preparing for the next phase of growth in a market they see as still underpenetrated.
As temperatures shoot up this month signalling an early onset of summer, sales of air conditioners (AC) are set to increase, with companies expected to hike the prices of ACs by 4-5 per cent due to component shortages. Leading players like Haier and Bluestar and suppliers like EPack Durables have raised their production capacities to meet the 25-30 per cent rise in demand expected in the coming months.
As lower GST rates take effect on Monday, sales of air-conditioners, TV sets surged dramatically with buyers rushing to grab cheaper deals offered by retailers at the beginning of the Navratra festival.
Durable goods companies and retailers say online sales won't compensate for the fall in offline sales.
The festival season has already begun in the west and south of India with Ganesh Chaturthi and Onam, respectively, and consumer companies are witnessing a pick-up in sales compared to pre-Covid levels. Retailers, fast-moving consumer goods (FMCG) and consumer durables companies expect their sales to grow in double digits this festival season compared to pre-pandemic times, as there are no curbs on movement now. Adani Wilmar expects sales volume to be higher by 15-20 per cent as rural India has largely witnessed good monsoon rains, and employment has picked up in urban areas.
Aiming to sell half a million mobile sets within a year, Haier -- a leading home appliances brand on Tuesday announced its foray into the Indian mobile handset market with the launch of its seven GSM mobile sets in Delhi.
This growth seen by the consumer goods was led mainly by the durables market, which rose 17.6%, the highest in 11 months
The latest hike is likely to be followed by another such move next month, said industry players. Before the latest hike, companies had initiated price hikes to the tune of 12-13 per cent in 2021 but they weren't able to fully cover the increase in costs.
In a market dominated by global players, home appliances brand Haier on Friday said it is confident of carving a space for itself in the Indian mobile telephone segment and be among the top players in a couple of years.
Chinese home appliances company Haier India, which recently forayed into the Indian market, plans to set up a research and development centre near New Delhi with Rs 30-50 lakh
Panasonic India is set to increase the prices of its products by up to 7 per cent, while some others players have already increased it.
Almost 40 per cent of a durable company's sales are achieved during the festival season
Fridge, washing machine, and paint makers are expected to cut prices shortly, while TV, aircon, and sanitary napkin makers are a disappointed lot
Home and kitchen appliances, electronic products, apparel and B-segment cars stand to gain.
They might have made little headway in the market so far, but leading Chinese consumer electronics companies are busy drawing up big plans to expand their footprints in India. After acquiring Anchor Daewoo's appliance business last year, Haier is on the prowl for some local brands. TCL is getting ready to expand its product range to mobile phones and home appliances.
Double whammy for consumer firms, where the top line will remain subdued due to demonetisation and margins will squeeze owing to a crude oil spike and rupee depreciation, reports Viveat Susan Pinto/Business Standard from Mumbai.
Typically, about four to six weeks ahead of the polls, activity in the property market picks up as politicians begin to pull out their money parked in real estate. But this time, it's all quiet till now in real estate so far.
India-Pak face-off saw brands pay up to Rs 20 lakh in last-minute spot buying.
Consumer durable firms, including Haier, Whirlpool, Panasonic, Godrej Appliances and Daikin, are increasing prices of their products by up to 5 per cent following the withdrawal of excise duty sops, coupled with high input costs.
Anticipation of weak sales this festive season due to deficient monsoon, especially outside big cities.
While e-commerce operations for these firms are small at the moment, it is slated to grow in the next 3 to 4 years.
As the rupee continues its freefall against the dollar, cars, TVs, washing machines and other home appliances are set to cost more with companies set to hike prices to offset impact on their margins.
The government on Thursday cleared the Rs 30 crore (Rs 300 million) FDI proposal of a Chinese company, Haier Electrical Appliances to set up a 100 per cent subsidiary in India.
Two major consumer durables and home appliances makers Sony and Samsung have ruled out any immediate hike in prices of products even as a steep fall in rupee against dollar has squeezed margins.
Consumer Electronics and Appliances Manufacturers Association Consumer has also welcomed the move saying the it would improve the sentiments and strengthen the growth.
A few days ago, Reliance Retail surprised the market by acquiring the Campa brand from Delhi-based Pure Drinks Ltd for Rs 22 crore. A successful cola brand in the eighties, especially in North India, Campa Cola thrived when Coke exited India in the late seventies. When the Atlanta-based major returned and PepsiCo set base in India, it went down fighting.
Makers of air conditioners, beverage and ice-cream are hopeful of a boost in sales
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