Orient Electric eyes larger pie of premium fans market, expands range
Feb 23, 2021
New Delhi [India], February 23 (ANI/NewsVoir): Orient Electric Limited, part of the diversified USD 2.4 billion CK Birla Group, has expanded its premium fans portfolio with the addition of IoT-enabled and 50 per cent energy saving inverter fans.
The company currently holds 48 per cent of the premium fans market and is now eyeing an even bigger share on the back of ever-increasing demand for high-end products.
"In the premium fans segment, we have decisive market leadership today with 48 per cent market share. Until few years ago, this category hardly existed. We not only created this category, but we are continuously nurturing and expanding it by introducing new models in line with consumer aspirations and evolving trends. Today's consumers no longer want ordinary fans, they want fans that are smart, stylish, energy-efficient, and add convenience to life. This growing demand for premium and decorative fans gives us an opportunity to gain further dominance in the segment. We will continue to expand our premium Aeroseries and i-Series range with fans that are not only innovative, elegant and smart but energy-efficient at the same time," said Atul Jain, Executive Vice President, Orient Electric Limited.
The new i-Float fan is part of the Orient i-Series range of premium inverter fans launched by the company last year. It delivers an astounding 230 CMM of air delivery, consumes 50 per cent less energy as compared to ordinary fans, and operates silently and efficiently even at low and fluctuating voltages.
The fan is IoT-enabled and can be operated with utmost ease via Orient Smart mobile app or with voice commands via Alexa and Google Assistant. The fan also comes with a remote control. Pricing for i-Float fan, which is available in four distinct finishes, starts at Rs 4700. Orient i-Series fans are BEE 5-star rated and have 50 per cent better service value than the ordinary fans.
While traditional induction-motor based fans consume 70-75W of electricity, Orient i-Series fans consume only 32W thus reducing power consumption by more than half. With a modest assumption, if all fans installed in India are replaced with i-Series fans, it will help the nation save 1.12 lakh GWh of energy annually with cost saving of approx. Rs 72,864 crore and a significant reduction in carbon footprint. If the new ceiling fans sold also come with inverter motor, it will help further India save approx. 7530 GWh energy per year.
Orient Electric manufactures 10 million units per annum at its Faridabad and Kolkata plants.
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