With the arrival of summers, manufacturers of consumer durables are seeking growth and profit in the room air-conditioner segment. Keeping in mind the similar objective, central AC company Blue Star has announced that it will increase its investment in research and new product development.
As per the reports the company has also set a target of 25 percent to grow in the same segment during the current fiscal.
Blue Star has also launched a new range of eco-friendly room air-conditioners for the residential segment.
Blue Star told to ET that the company wants to invest more on the R&D segment in order to develop modern and designable products competing with the best in the world.
The company also stated that it is hoping a long term growth from the enterprise stategy and planning. Blue Star expects growth in the current fiscal only with the help of new and innovative product launches to come.
The residential segment contributes 70 per cent of its overall room air conditioner sales and the company will continue its focus on this segment in its new product line-up for 2015. It is targetting a double-digit market share in 2015-16.