It's All About Tech & Innovation This Diwali for Durables Companies

In the television space, where larger screens are getting increasingly popular, 2 major durable firms LG and Samsung are competing on viewing experience

Home appliances and electronics firms are hard-selling technology to win over consumers this festival season. As the buying extravaganza peaks ahead of Diwali, white goods companies have lined up products that they are promoting as technologically innovative.

In the television space, where larger screens are getting popular, LG and Samsung are competing on viewing experience. While LG has come up with OLED technology, Samsung is countering with quantum dot technology – both aim to provide a natural viewing experience. These TVs are distinct from typical LED panel sets. The fight intensifies as the screen size goes beyond 55 inches, where premium offerings are the most.

OLED or organic LED technology is based on an electroluminescent layer, film of organic compound that emits light. Samsung’s quantum dot works through numerous nano-particles that create life-like picture quality. On the other hand, LED works through a panel of light-emitting diodes that create the pixels.

Appliances major Whirlpool is bringing in its global range of super premium products this season. The firm has launched Europe-made front-loading washing machines first time in the country, which are based on sixth sense technology. Samsung is betting on its new ActivWash+ technology which has been conceived and developed in India. LG has come up with a twin-tub technology which allows consumers to wash clothes in two automated tubs simultaneously. 

The festive season, which typically starts from September, is the crucial part of the year when 35 per cent annual sales get transacted for most durables firms. During this season, executives are on their toes keeping up with the frenzy of supply of products, while trying to motivate trade partners with attractive schemes. The process of introducing innovative offerings for the season starts months ahead, says an executive who’s in the thick of things. 

According to Niladri Datta, head of corporate marketing at LG India, bringing in technologically innovative products and solutions has been the key to success for them in the country. Rival Samsung, which has been facing the backlash of the Note7 fiasco globally, is also talking technology and innovation. Rajeev Bhutani, vice-president, consumer electronics, Samsung India Electronics, says new and customised products for the market is considered crucial for Samsung’s growth in India.

Samsung has launched smart convertible 5-in-1 range of refrigerators which provides options like customised storage spaces, built for Indian consumers. The range has digital invertors. Whirlpool’s introduction of external sensors in refrigerators is a first in India, claims Kapil Agarwal, vice-president. External sensors allow refrigerators to judge the environment and tweak the internal cooling.

Videocon has taken a different route, though. Apart from a new range of products, it has launched an offer under which consumers can take home their products without paying anything. The payment of equated monthly instalment would apply only from next year. “With these measures, we are targeting a 30 per cent sales growth over last year,” said Anirudh Dhoot, director.

According to Kamall Nandi, executive vice-president, Godrej Appliances, the firm is trying to leverage its brand by building an emotional connect with consumers. 

“There have been innovations in washing machines and refrigerator space. The idea is to make them available with interesting offers”, he said.

 

Reference - http://www.business-standard.com/article/companies/it-s-all-about-tech-innovation-this-diwali-for-durable-companies-116102001451_1.html