LG Electronics, a consumer durable brand of the country has reportedly become the first and only brand to accomplish the sales volume of over 1 million Dual Inverter air conditioners during the time period from January to June 2022. This achievement has strengthened LG’s leadership in the dual inverter AC market with No. 1 market share.
Taking back to the memory lane, in 2016, LG Electronics decided to make a 100% transition towards the Inverter AC category. The main reason behind this decision was to focus on introducing futuristic technology and ensure electricity savings. As per the estimates during that period, the share of inverter ACs in India was just 12%, while it was more than 50% in other developed countries.
Hence after the extensive research, LG Introduced AC’s with Dual Inverter Technology in India, which claims to consume much less electricity than a conventional air conditioner and at the same time is a seamless blend of usability and functionality.
Deepak Bansal, VP, Home Appliances & Air Conditioner, LG Electronics India said, “In Air conditioning segment, we are committed to offer most energy efficient & advance cooling solutions and based on this vision LG shifted its entire AC line to inverter Technology. For us, key success factor has been our close ear to ground in terms of understanding consumers unmet needs. Based on insights, we introduced advanced technology features like AI Convertible 6-in-1 Cooling, LG ThinQ smart connectivity for convenience seekers and UV Nano feature for consumers with strong quest for health. Our consumers over the years have appreciated the differentiated offerings and meaningful innovations by LG, and our achievement of over 1 million sales in Dual Inverter AC’s is a clear testament to that. We further look forward to strengthening our market leadership position by offering more innovative products based on Indian consumer insights”.
Mr. Kulbhushan Bhardwaj, Business Head, Room Air Conditioner, LG Electronics India added, “India has been a strategic market for LG, and we continue to strengthen our presence with robust product portfolio along with vast after sales service network. By achieving over 1 million sales in H1, we are confident it will further strengthen our foothold in the Indian market and help us diversify our product offering as per consumer needs aiming at more energy efficient products. Our 2 Indian manufacturing facilities enables us to adjust production as per consumer demand & ensures smooth supply. We will continue to strengthen our overall market leadership in Air Conditioning segment.”
With this bold move taken by LG, the Air Conditioner industry has been reinvented, with Inverters now contributing to 80% of the total air conditioner market.
LG further said that LG AC’s are manufactured in India which ensures smooth supply during peak periods & goes through robust quality checks.