Work-from-home and decentralisation of workforce have further increased the demand for air conditioners, said Sharp India Ltd, a subsidiary of Japanese conglomerate Sharp Corporation.
Besides, the Indian LED TV segment foresees “significant growth” in coming years and the demand is increasing “wisely”, said Sharp India in its latest annual report.
In LED TV segment, preference for full high definition TV with better image quality, audio clarity, and colour resolution has raised substantially and reduction in the price has helped in the shift of trend.
“The demand of television section has resulted mainly due to nuclear families, upgradation of technology, increase in number of channels, web series and other modes of advanced entertainment. Electrification in rural areas has further boosted demand from rural areas,” said Sharp India while discussing about Industry Structure & Development.
Sharp India is primarily engaged here in the manufacture and sale of liquid crystal display televisions (LED TVs) and air conditioners (AC).
According to the company, demand for AC has risen substantially from household customers and corporates.
“The work from home and decentralisation of workforce has further increase the demand for air conditioner market,” it said.
The expansion of sectors like mall, hotels, the new industrial setup, retail outlets etc, has further boosted the demand for Air Conditioners.
“The main growth drivers of AC are increase in disposable income, easy finance options, acceptance as utility product than luxury due to change in climatical conditions,” it said.
While talking growth of e-commerce into the segment, Sharp India said now the customers have more options and are attracted to online trading platforms wherein competitive prices are offered.
“Availability of various options and easy comparison between the same, easy return and replacement policies and a professionally managed logistics with easy loan and convenient monthly installments has boosted the demand of consumer goods in Indian market,” it said.
In FY21, the company incurred a loss of Rs 18.49 crore and the accumulated loss as on 31st March 2021 is Rs 98.98 crore.
There was no production of LED TVs from April, 2015 (except in August 2015) and of air conditioners since June 2015.
“The company continues to receive financial and operational support from Sharp Corporation, Japan, the majority shareholder and holding company,” it said.
Sharp Corporation, Japan is a group company of Hon Hai/Foxconn Group, one of the world”s largest contract electronics manufacturers. Outlook India