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Thursday, April 24, 2014
News Making Money

Voltas air conditioner, the all-India market leader, increases its market share to 19.8 percent

28/06/2013 12:58 (299 Day 19:23 minutes ago)

The FINANCIAL -- Through the popular appeal of its 'All-Weather AC' offering, Voltas has managed to reach a high point of 19.8 percent market share in May 2013, in terms of sales volume at multi-brand outlets, according to GFK Retail Audit Report.



The brand has thus sustained its number one position, established in FY12-13, in an intensely competitive market. Moreover, the company has managed to widen its lead and made a significant advance from its overall  market share of 18.4 percent in FY12-13, thus building a clear edge over its competitors, according to Tata Sons.

These figures are especially meaningful because May is the most critical month in the AC industry, with the highest annual contribution. Voltas AC sales volume has grown by 60 percent, which is significantly higher than all competing brands, according to Tata Sons.

Voltas' strong performance this May is reflected in various regional achievements as well. In North India, which accounts for almost 38 percent of the AC market, the brand leads with close to 30 percent share. This includes an undisputed 36.1 percent share as the number one brand in Delhi, one of India's largest markets for room ACs, followed by Punjab and Haryana. The brand also holds the number one ranking in UP, Rajasthan, MP, Bihar, Jharkhand and, most significantly, Mumbai.

"This is not a passing phenomenon. The Voltas brand has gained a lasting advantage in the market. We have every expectation that we can not only sustain our lead, but further widen the gap in months and years ahead," said  Pradeep Bakshi, executive vice president and chief operating officer, Unitary Products Business Group, Voltas.



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“The former Yugoslav Republic of Macedonia”: presidential election and early parliamentary elections

23/04/2014 16:38 (15:43 minutes ago)

The FINANCIAL -- A 14-member delegation of the Parliamentary Assembly of the Council of Europe (PACE), led by Stefan Schennach (Austria, SOC), will travel to “the former Yugoslav Republic of Macedonia” from 25 to 28 April to observe the conduct of the presidential election (2nd round) and the early parliamentary elections, alongside observers from the OSCE’s Parliamentary Assembly and Office for Democratic Institutions and Human Rights (ODIHR), according to PACE.



Major Cloud Service Providers Slash Prices; Threaten Smaller Players’ Existence: IDC Warns

19/04/2014 13:40 (4 Day 18:41 minutes ago)

The FINANCIAL -- In the last week of March, major Cloud Service Providers (CSPs) in Asia dropped their prices for core services dramatically and IDC believes that this will make it very difficult for smaller CSPs to remain in business if they continue to rely on provision of basic, undifferentiated services, according to International Data Corporation (IDC).

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