Betting big on its consumer durables business, Intex Technologies plans to invest Rs 200 crore for air-conditioners manufacturing plant in Uttar Pradesh. Having established itself as an affordable mobile handset player, Intex now looks to consolidate its position in consumer durables.
Currently, the company's 75 per cent business comes from mobile phones while rest comes from consumer durables. "We are ramping up production of consumer durables including air-conditioners and hope to see the segment grow from 25 per cent to 40 per cent in next two years," said Keshav Bansal, director, Intex Technologies.
Given a low penetration of just two per cent in air-conditioners, Intex Technologies intends to position itself as a group providing state-of-the-art technology at affordable prices. The company has five manufacturing facilities that produce mobile phones, air-conditioners, washing machines and LED TVs.
"Our air-conditioners reduce 30 per cent power consumption as compared to any other brand. For the last three years, we are seeing 100 per cent growth in consumer durables," said Bansal.
“Within the consumer durables space in India, air-conditioners have the least market size of nearly four million units with the lowest penetration at around two per cent. These figures clearly show the immense untapped potential in India for ACs and Intex being an established brand in tier 2 & 3 cities will surely be able to penetrate and expand the market of this product in India," Bansal added.