Samsung hopes that new launches, the ongoing premiumisation trend in the home appliance segment and the upcoming festive season this year and the push from attractive financing schemes that reduce acquisition costs will help it win in the segment and claim market leadership, it said.
“We have a market share of 20 per cent and we want to improve it further. We aim to become a brand that is bought by the majority of consumers,” Baishakhia told PTI.
Currently, the South Korean manufacturer LG Electronics is the leader in the Indian washing machine segment, with over 35 percent of the overall market. In the washing machine vertical, brands such as Haier, Bosch, Siemens, International Federation of American FootballGodrej Home Appliances and Indian Whirlpool compete with Samsung.
Samsung is looking at the new consumer trends, where people are upgrading and replacing, opting for a larger capacity washing machine of over 9kg, which currently contributes to 40 percent of the front loading model sales
According to Baishakhia, Samsung is focusing on front-loading washing machines, and models with a load capacity of nine kilograms or more are experiencing a growth of over 50 percent.
“People already pay a premium in this industry for a large nine-kilogram capacity. What we’re doing is democratising it even further by offering them an even larger load,” he said, adding that demand for larger sizes is growing due to lifestyle changes, increasing urbanisation and rising disposable incomes.
Consumers pay 5% more for each kg of load capacity. Yet Samsung is offering a 12kg capacity washing machine at 10% more price, against a market trend of 20%. “We have reached the tipping point at almost half that price, which means even at 10% more price, they will not only get a higher capacity, but they will also get all these features,” said Baishakhia.
The Indian washing machine market is estimated to be around 10 million units annually, with single-digit growth. Semi-automatic machines remain popular in rural markets, but fully automatic front-loading and top-loading models are gaining ground.
Asked if Samsung would have a leadership position in the premium segment of washing machines priced above Rs 30,000 per unit, Baishakhia said the company would.
“For us, our first goal is to become a leader in this front-loader segment… So, our current focus would be how, in this category, we can gain the largest market share and lead the market,” he said.
Samsung has claimed its new line of 10 AI-powered 12kg super-sized front-loading washing machines will help reduce energy consumption by around 70 per cent and will be a “game changer”.
These machines with larger drums will reduce the washing time to 39 minutes as the AI will detect the cloudiness of the fabric and water and also decide the perfect amount of detergent and fabric care.
“Through this AI power mode, we will reduce energy consumption by more than 70 percent. Therefore, it will also adapt to consumer habits, with habit learning to suggest what kind of cycles suit most washing times,” he said, adding that users will also have seamless information sharing through the Samsung app.
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