New Delhi, September 17: LG Electronics India’s latest move to enter the commercial chest freezer segment has triggered a positive in the market, with shares rising as much as 3%. This expansion is expected to affect the market position of incumbents Haier, Voltas and Blue Star who have dominated the sector so far. For LG, this expansion is aiemd to capture a substantial share of the growing demand for commercial cooling solutions from the retail, hospitality and food and beverage industries.
The new lineup features a range of six convertible models aimed at offering a versatile range of cooling options between refrigeration and freezing modes. The company is aiming to use its advanced inverter technology for practical uses for small businesses and large enterprises alike. With a focus on energy efficiency, this move is aimed to help LG to leverage its strong brand and extensive distribution network to disrupt a segment which could pose a threat to incumbents. This aggressive push is expected to strengthen LG’s position in the market,while allowing it to offer another revenue stream. With demand for cold storage solutions continues to rise, this entry is expected to witness more competition in the commerical appliance market in India.
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