Whirlpool 2002 Annual Report Download - page 16

Whirlpool Asia continued to make rapid strides in India
and China, the company’s largest markets in the region. In
particular, the Whirlpool brand further increased its market
share throughout Asia and especially in India, where the
brand is No. 1 in the laundry and refrigeration categories.
For the year, revenue of $391 million increased 5 percent.
Whirlpool Asia’s performance was noteworthy, given the
economic uncertainties that prevailed in much of the region
throughout the year in this highly competitive marketplace.
The company continues to build upon its solid operating
foundation in the world’s largest and fastest growing home
appliance market.
The company’s consumer-focused strategy continued to
make deeper inroads throughout the region and largely was
responsible for Whirlpool Asia’s 11-percent unit growth, one
of the strongest industry performances in the region.
Dozens of new products were launched during the year,
25 alone in India. Among them was a new line of Whirlpool
Icemagic refrigerators, with a unique Fast Forward Ice
feature that makes ice quicker than ever before. A button
on the refrigerators’ exterior control panel activates the
quick-ice system.
Other Whirlpool brand introductions in 2002 included a line of
MagiCool air conditioners, with their Quick Cool technology
to chill rooms fast, and the MagiCook microwave ovens.
Following Quick Cool’s successful launch, the product quickly
established a solid position for the Whirlpool brand within the
air-conditioning segment of the market.
Among the significant introductions in Whirlpool China was
the launch of a new Whirlpool 6th Sense clothes washer, with
sensor washing technology suited to the China market.
In addition, we acquired the remaining 20 percent of the
shares from our former partner in a washing machine joint
venture in Shanghai.
The company also achieved an environmental milestone when
Australia’s Sustainable Energy Development Association
recognized Whirlpool as a responsible manufacturer of energy
efficient products, becoming the first appliance maker to
receive the endorsement.
During the year, the company continued its steady penetration
into China’s interior provinces from the country’s coastal
region, where Whirlpool enjoys an increasingly strong market
presence. The company is overcoming the country’s
structural challenges to product distribution by engaging
with strategic trade partners. These trade partnerships will
help Whirlpool continue to expand its distribution network
and take part in the rapidly growing prosperity of China’s
domestic market.
Both China and India continued to offer excellent export
opportunities for the company. Whirlpool China, for example,
manufactures the bulk of the company’s global microwave
products. In 2002, Whirlpool India began to manufacture and
export new KitchenAid portable appliances to the United
States and elsewhere. Early success with blade coffee
grinders led to plans to expand the manufacturing line of
KitchenAid portables with coffee makers and compact
ovens. Whirlpool India continued to maintain its leadership
as the country’s top exporter of white goods, shipping to
more than 40 countries throughout Asia, the Pacific Rim, the
Middle East, Africa, Latin America and the Caribbean.
In addition, India and China are emerging as key technology
centers in Whirlpool’s global technology organization.
Besides manufacturing the bulk of the company’s
microwave products, Whirlpool China also is taking on much
of the company’s microwave technology development. In
India, Whirlpool’s Pune plant is focusing on refrigeration and
air-conditioning technology, while the Pondicherry facility
supports the development of the company’s clothes-washing
technology.
2002 Annual Report 29
> Garrick D’Silva Regional Vice President, Whirlpool Asia
KEY STATISTICS
>Leader among Western companies, with No. 1 market
position in India
>$391 million in 2002 sales
>$14 million in 2002 operating profit
>Approximately 5,000 employees
BRANDS
Whirlpool
PRINCIPAL PRODUCTS
Washers, Refrigerators, Microwave Ovens,
Air Conditioners, Compressors
HEADQUARTERS
Hong Kong, PRC
MANUFACTURING LOCATIONS
India Faridabad, Pune, Pondicherry
China Shanghai, Shunde
NEW PRODUCTS INTRODUCED IN 2002
>Whirlpool – semi-automatic Whitemagic washer,
front-load Whitemagic washer, Icemagic refrigerator
with Fast Forward Ice feature, Jupiter front-load and
top-load washers, MagiCool air conditioners with
Quick Cool technology
>Whirlpool Jupiter washer
Among the first widely distributed
clothes washers in Asia that use
warm water, the Whirlpool Jupiter
stain-removal washer eliminates
most stains, including those from
bicycles and cooking oil, and is
gentle on woolen garments.
>Whirlpool microwave
With ease of use and consumer
safety in mind, Whirlpool microwave
ovens are designed for preparing
traditional Indian cuisine and come
with a new, unique crisping function
to evenly brown breads and other
dishes.
Asia Operating Review
28
Asia Operating Review
> India, China, Asia /Pacific