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The large appliances market in India is dominated by multi-national companies.
Due to consistent technological changes and higher investments in research and development (usually by parent), we believe they will continue to dominate the said segment of the market.
There is high failure rate too in large appliances with players like BPL Ltd., Videocon Industries Ltd., Onida, Toshiba, AIWA, AKAI, Sony, Sharp, Allwyn, Sanyo succeeding initially, but failing to maintain / increase their market shares.
We believe the domestic companies, which are focused more on smaller appliances, are likely to generate higher EVA.
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