Daewoo Anchor plans new CTV models

By Our Staff Reporter

HYDERABAD, DEC. 16. Daewoo Anchor Electronics (DAEL), which makes colour televisions (CTVs) in the premium segment, plans to launch a range of seven new CTV models in India in May/June 2001, aimed at boosting its sales from 60,000 CTVs to one lakh next year according to its Managing Director, Mr. S. H. Suh.

Speaking to The Hindu here recently, he said the new range, which will replace the existing eight models, would have totally new cabinets and features suitable to `Indian markets', and demands.

A joint venture of Daewoo Electronics and Anchor Electronics and Electricals, DAEL invested Rs. 200 crores in its facility near Pune, where it makes washing machines, refrigerators and CTVs.

It has projected additional investment of Rs. 40 crores next year, of which Rs. 20 crores will go into enhancing refrigerator capacity, Rs. 12 crores for advertisement and promotion programmes, Rs. 3 crores for washing machines and Rs. 5 crores into the CTV segment.

Mr. Suh said Indian TV market was growing fast, and is put at 50 lakh this year. While refrigerator and CTV market was equal 2-3 years ago, CTV market has now jumped to 52 lakhs, and refrigerator market to 32 lakhs. Though CTVs growth slowed to 5 to 6 per cent from 20 to 25 per cent last year, it was expected to be 10 per cent in 2001, he said.

Besides flat CTVs in 21 and 29 inches, other new models will be in 14 inch, 20, 21 and 29 inch category. Indigenisation levels for new models will go up from 60 per cent to 75 per cent in a year, he said. Daewoo sells 8 million CTVs in the global market of 100 million, and is strong in the U.S. and Western Europe, he said. DAEL expects to end this year (December) with a turnover of Rs. 165 crores, comprising refrigerators (Rs. 92 crores), CTVs (Rs. 57 crores), washing machines (Rs. 12 crores), and microwave ovens (Rs. 4 crores). It has projected Rs. 250 crores for 2001, with a first time Rs. 5.5 crore net profit. Its accumulated losses are Rs. 12 crores.

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Section  : Business
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