On February 16, Toshiba Group’s president Satoshi Tsunakawa visited the Toshiba Carrier production base in Hangzhou, China. It was the first time that the Toshiba Group president visited the Hangzhou factory since its establishment, which implied that the Toshiba Group is paying close attention to the development of Toshiba Carrier’s air conditioners in the China market.
According to the 2016 China central air conditioning market report, the overall industry only increased by slightly more than 10%, however Toshiba Carrier air conditioners increased by more than 40%, much higher than the average increase of the market. In the variable refrigerant flow (VRF) segment, its market share increased from 7.9% in 2015 to 9.2% in 2016, making Toshiba Carrier the fastest growing brand. It is expected that the company’s objectives of 25% growth in overall sales and 1% increase in VRF market share can be achieved in 2017.