MUMBAI, May 7: Daewoo Anchor Electronics, the 76:24 venture between Daewoo of Korea and Anchor Electronics, plans to launch three refrigerator models targeted at the lower end of the market by January next year.

The models would be in the price range of Rs 15,000, going up to Rs 30,000. Daewoo has four models in the premium segment with capacities of 351 litres (Rs 33,900), 490 litres (Rs 46,900), 580 litres (Rs 63,900) and 660 litres (Rs 74,900).

Daewoo Anchor general manager (marketing and sales) Ashok Sharma said worldwide Daewoo does not manufacture the lower capacity models but has made an exception to India which has a large market for the company.

The company has a market share of 45 per cent in the west zone for its premium range of refrigerators. The market for the high-end refrigerators is 45,000 per year of which the west alone accounts for 24,000, he said.

In the first phase of production, the Pune plant will reach a capacity of 1 lakh refrigerators and washing machines apiece. The plant is being built at a cost of Rs 110 crore. The capacity will doubled after 1999.

The three models to be manufactured belong to the frost-free category with direct cooling refrigerators slated to be made in the second phase after 1999.

The company also plans to set up a 24-hour service centre in June 1997 and put into service mobile vans. It is setting up a manufacturing base in Delhi for 2 lakh televisions annually at a cost of Rs 70 crore. Depending on the demand, the capacity is estimated to be doubled in the second phase beginning 1999.

Of the product mix, 60 per cent of the revenue accrues from televisions, 30 per cent from refrigerators and the balance from washing machines, said Sharma. Daewoo has a 5 per cent share in in the colour television market.

The premium segment in refrigerators, colour televisions and the washing machines, which has been the focus for Daewoo, is estimated at Rs 25,000, Rs 30,000 and Rs 18,000. The company has kicked off its marketing efforts from the western zone and is slated to go national in July this year.

Copyright © 1997 Indian Express Newspapers (Bombay) Ltd.