China’s Haier Appliances is all set to battle it out in the fiercely competitive home appliances and consumer electronics market dominated by LG, Samsung, Sony and Panasonic. The company will not only add new product categories to its portfolio this year but also ramp up its retail presence.

In the next two months, Haier will introduce laptops, camera and small kitchen appliances like dishwashers. Premium mobile handsets are also in the pipeline.

More product launches are on the radar but the company declined to share details citing competition reasons. Globally the company has presence in 96 product categories.

Haier Appliances India is set to achieve breakeven this calendar year with a turnover of Rs 900 crore. It aims to double this turnover in 2011. A wholly owned subsidiary of the $18-billion Haier Group, the brand entered the Indian market in 2004. It reported a turnover of Rs 350 crore in 2009. At present, refrigerators and washing machines are the main drivers of the company’s business.

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

Riding on this gameplan, Haier aims to be counted among the top five home appliances and consumer electronics brands in India. It expects to garner a market share of 7 per cent by the yearend, and increase it to 12 per cent in 2011. It will have a network of 75 exclusive retail outlets by December, up from the existing 36. The store network will grow to 300 outlets in 2011.

To support its growth plans, Haier is adding capacity at its Pune plant. The company largely manufactures refrigerators besides limited production of washing machines and air-conditioners. The capacity will increase from 0.5 million to 1.5 million units with an investment of Rs 100 crore.

Haier also offers an imported range of LCD and LED TVs and a limited range of water heaters. These categories will also see new additions.