By Lorna Brett

Haier has revealed it will be adding new product categories to its range and boosting its retail presence in India, in an effort to compete more effectively with appliance giants LG, Samsung and Panasonic.

www.mydigitalfc.com reports that in the coming months Haier will be adding new small appliances, cameras and laptops to its Indian product range, though the company would not give further details in an effort to keep the news a secret from its competitors. It is rumoured that Haier also has mobile phones in development.

According to the news source, Haier Appliances India looks to be on track to breakeven this year, and is aiming to double its turnover during 2011. Refrigerators and washing machines remain the main drivers of Haier’s business in India.

“We are gradually taking our place in the Indian market. We are going to register 160% growth in turnover this calendar year. Next year we are targeting a turnover of Rs 1,800 crore,” Haier Appliances India president Eric Braganza said.

“We are on a growth path now with a focused approach. The growth will be achieved by product portfolio expansion, improved dealer network, deeper market penetration and more shelf space in retail outlets,” he added.

As a result of this plan, Haier expects to be named as one of the top five home appliances and CE brand in India. It is aiming to hold a 7% market share by year end, to rise to 12% during 2011 with its store network to grow to 300 outlets during 2011.