White goods makers wish you a long (appliance) life
Consumer durables makers in India are locked in a warranty war. Brands such as LG, Samsung, Haier, Godrej, Voltas Beko and Panasonic are competing to offer the best protection for refrigerators, air-conditioners, microwave ovens and washing machines.
Consumers, mostly those above the age of 35, are readily taking up these offers, potentially boosting sales, say retailers.
Brands are offering warranties of up to 10 years on the main component, such as the compressor of an AC or refrigerator, and up to 20 years on the motor of a washing machine or dishwasher, even referring to them as 'lifetime' assurance.
The more premium or costlier a product, the longer the warranty tenure.
Some brands are offering free one- or two-year warranty more than the industry norm, to gain market share. For instance, Haier and Voltas Beko refrigerator compressors carry a 12-year warranty, compared to 10 years from LG.
Samsung and Haier are giving a 20-year warranty on the inverter motor of a washing machine, compared to 12 years by Voltas Beko and 10 years by Godrej.
However, for most products, the comprehensive warranty periods — which cover the entire product and all its parts-have remained the same, at one year, or, at most, up to three years.
Cos Bearing Costs
«Warranty terms have become a decisive factor for a lot of buyers,» said Satish NS, president at Haier India. «Our internal study shows warranty is the third (most) important factor some buyers consider, after the brand and feature. The long-tenure warranty is on the main
