The Japanese electrical appliance company Sharp has entered the domestic washing machine market for the first time, expecting the products to help it lift overall sales by 25% in 2011, according to Tatsuya Miyagi, managing director of Sharp Thai.
“Even though we are a new player in the washing machine market, we aim to command a 10% market share in this area as soon as possible,” he said.
Currently, Sharp Thai is offering only top-loading washing machine models but it plans to introduce twin-tub and front-loading models later this year.
Sharp Appliances (Thailand), the Japanese company’s largest Asean manufacturing base, will produce the washing machines to serve both domestic and Asian markets.
Sharp Thai is also introducing its first single-door refrigerators locally as the products account for half of the domestic refrigerator market.
Driven by the Kyoto Protocol and social movements toward green technology, Mr Miyagi said the company would continue to focus on its environmental and health-oriented policy.
“This business policy has been set for a long time and that’s why we have introduced products like Plasmacluster technology for consumers,” he said, referring to a Sharp innovation that is claimed to eliminate airborne substances.
The company reported 10% growth in its total sales to 2.1 billion baht in the first six months of its 2010 fiscal year ending on March 31, 2011. It aims to achieve total sales of 4 billion baht for the entire fiscal year.
Home appliances made up about 50% of sales, followed by audio-visual products at 30% and office equipment at 20%.
Sharp Thai aims to increase sales to between 8 billion and 10 billion baht by 2015, reflecting its confidence in the improving economy, increasing population, and its unique products.
Sharp Thai will also provide support services and software to Sharp’s solar power plant in Lop Buri province, one of the world’s largest solar photovoltaic projects. The plant is scheduled to be completed in two years. Revenue projections for the venture were not available.
No word of any European launch at this time.