LG to Fortify Its Share in Washing Machine Niche
LG to Fortify Its Share in Washing Machine Niche

Electronic maker, LG is fortifying its lead in the washing machine segment as the new players enter the market. With this, the category reportedly witnesses a shift towards premium and bigger capacity models. In the coming years, LG Electronics India will focus on a new range of bigger capacity machines, Ashok Masnam, Product Group Head of LG, informed.  
 
“The washing machine market in India is at around Rs 15,000-16,000 crore and LG is a market leader in the category with a 36.8 percent market share,” Masnam added.

“The washing machine market in India is at around Rs 15,000-16,000 crore and LG is a market leader in the category with a 36.8 percent market share,” Masnam added.
 
"We want to strengthen the washing machine share. We have seen market shifting, LG has a strong network of sub-dealers and distribution, we have all the chances that we can strengthen our leadership," Masnam added. 

In the appliances category, washing machines will be a high-growth category. 

"Washing machine will lead the segment for 2-3 years. The penetration levels are low and there has been an increase in the market like India. People are opting for fully automatic machines," Masnam said.

Currently, front load washing machines are contributing 30 percent to the business. The top load is around 35 percent and the semi-automatic washing machine is 30-35 percent.

"On a quarter-on-quarter basis, we are seeing that front load is taking a lead, followed by top load and semi-automatic. The major shift of the business has been to fully automatic," Masnam stated. 

Earlier, washing machines used to play as an urban product but now, even in smaller towns, people are adopting it.  Currently, around 15 percent of the businesses of washing machines are from e-commerce channels.  

Moreover, with the entrants of new players into the segment, it has become competitive.

"We have seen new entrants coming up. India is also a fragmented market and different income-level groups are there, thus we need more product depth. Thus, there are different products for different customers. New trends are coming up with different competitors," Masnam said.  

Besides residential, LG has also expanded its washing machine range to the dryer, as a commercial laundromat brand.  LG manufactures around 95 percent of washing machines in India at its two facilities. 

At Pune, it manufactures the front loading washing machine and top load and semi-load at the Noida facility.

 
Stay on top – Get the daily news from Indian Retailer in your inbox
Also Worth Reading