BWI: CEAMA Reports a Solid Growth in First Quarter of 2010

Press release from Business Wire India
Source: CEAMA
Friday, May 07, 2010 12:33 PM IST (07:03 AM GMT)
Editors: General: Economy; Business: Banking & financial services, Business services, Electronic appliances & components, Financial Analyst, Media & entertainment, Stock exchanges; Technology
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CEAMA Reports a Solid Growth in First Quarter of 2010


New Delhi, Delhi, India, Friday, May 07, 2010 -- (Business Wire India) -- Consumer Electronics and Appliances Manufacturers Association (CEAMA) today announced the industry's success in terms of growth across its varied product categories for Q1 2010 (Jan- March 2010). Overall the industry has grown 30% over Q1 2009 (Jan - March 2009).

This quarter also saw phenomenal sales especially in the display category which includes Conventional Flat Panel Displays (PDPs, LCDs and Flat screen TVs). FPD registered a growth of 70%, AC sales increased by 50%. The industry also witnessed a 40% healthy growth in Home Appliances Business.

Commenting on the exceptional performance of the Industry Mr Pradeep Kumar spokesperson CEAMA said, "The Consumer sentiment has been very positive and upbeat with higher disposable income and a strong economy. The durable industry has seen a robust 30% growth approximately". He added that due to increase in commodity prices like steel, copper etc. and also increase in VAT by a few states, Appliances and AC's in particular saw a price rise". This didn't become a deterrent though and almost all categories saw a handsome growth.

The industry has also witnessed some interesting upcoming trends. Due to early advent of summer, March and April saw an unprecedented sale of AC. Earlier most of the households use to buy a single AC, now on an average there are two to three Air conditioners per home. Also in urban areas consumers are preferring split over window Airconditoners. Consumers are more aware about energy efficient appliances as they are proactively asking for star rated Refrigerators and Airconditoners. The demand for LCD televisions is also huge as consumers are replacing CTV for a LCD. Rural market and small town have shown promising demand for durables.

About CEAMA

Consumer Electronics and Appliances Manufacturers Association (z) (formerly CETMA) is an all India body of organizations in Consumer Electronics and Durables sector, Rs.30,000 crores industry. It is registered as a non-profit organization, looking after the common interest of the members, for sustainable growth in the sector. It has been in existence for last 30 years. Presently, there are more than100 members.

Members are manufacturers of Consumer Electronic products & Home Appliances products. The membership spectrum comprises of Domestic and MNCs, and includes large, medium & small-scale sectors. It is truly a representative organization for collective industrial promotional Members are manufacturers of Consumer Electronic products & Home Appliances products. The membership spectrum comprises of Domestic and MNCs, and includes large, medium & small-scale sectors. It is truly a representative organization for collective industrial promotional activities.


CONTACT DETAILS
Mr. Pradeep Kumar, CEAMA, +91 (120) 2352999 / +91 (120) 4006421, ceama@airtelmail.in

KEYWORDS
ECONOMY, BANKING, BUSINESS SERVICES, ELECTRONICS, Financial Analyst, MEDIA, STOCK EXCHANGES, TECHNOLOGY

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