India is likely to emerge as the world’s largest middle class consumer market with an aggregated consumer spend of nearly US$ 13 trillion by 2030, as per a report by Deloitte titled ‘India matters: Winning in Growth Markets’.
The report further said: combined with the increase in income levels of the Indian middle classes, the rise of the Indian consumer is driving greater aspirations, the need for world class infrastructure, brand leading consumer products and sophisticated services.
Consumer durable companies are broadly categorized into 3 parts:
White Goods: washing machines, conditioners, audio equipment, speakers and refrigerators.
Brown Goods: kitchen appliances such as microwave ovens, grinders, chimneys, electric fans, iron, mixers and other similar cooking appliances.
Consumer Electronics: VCD players, DVD players, MP3 players, mobile phones, telephones.
Here’s a look at the 10 leading consumer durable companies as per Brand Equity’s recent survey:
Since its founding in Suwon, Korea in 1969, Samsung Electronics has grown into a global information technology leader, managing more than 200 subsidiaries around the world.
The company’s offerings include home appliances such as TVs, monitors, printers, refrigerators, and washing machines as well as key mobile telecommunications products like smartphones and tablets. Samsung also continues to be a trusted provider of key electronic components like DRAM and non-memory semiconductors.
Samsung pledges to create and deliver quality products and services that enhance convenience and foster smarter lifestyles for its customers around the world. Samsung is dedicated to improving the global community through its constant pursuit of groundbreaking innovations and value creation.
With the success of its electronics business, Samsung has been recognized globally as a industry leader in technology and now ranks as a top 10 global brand.
Since the company first won top global market share in 2006, exceptional technology and innovative design have strengthened its unrivaled leadership in flat-panel TVs and monitors.
In the digital appliances business, Samsung achieved remarkable growth by debuting inventive new products and differentiated design in the premium market.
With 2014 global sales of USD 55.91 billion (KRW 59.04 trillion), LG comprises of four business units — Home Entertainment, Mobile Communications, Home Appliance & Air Solution and Vehicle Components — and is one of the world’s leading producers of flat panel TVs, mobile devices, air conditioners, washing machines and refrigerators.
Established in 1958, LG has led the way into the advanced digital era thanks to the technological expertise acquired by manufacturing many home appliances such as radios and TVs.
LG Electronics has unveiled many new products, applied new technologies in the form of mobile devices and digital TVs in the 21st century and continues to reinforce its status as a global company.
It plays an active role in world markets with its assertive global business policy. As a result, LG Electronics controls 119 local subsidiaries worldwide, with roughly 83,000 executives and employees.
The company was founded as Tokyo Tsushin Kogyo KK (Tokyo Telecommunications Engineering Corporation) in 1946, and changed its name to Sony in 1958. The company’s name was derived from the Latin word ‘sonus’ meaning sound, and ‘sonny’ a slang word used by Americans to refer to a bright youngster. The name was also chosen as it could be pronounced easily in many languages.
Foxconn Technology Group currently makes nine television models in India for Sony, which plans to expand the line-up that currently includes models with screen sizes of 22, 24 and 43 inches produced only for the local market.
Sony India’s revenue growth rate slowed in the past two financial years amid the global restructuring. The company scaled down its smartphone business to focus on the Rs 15,000-plus segment.