Anyone have experience with induction cooktops?

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Yep, but the problem with pure iron is they rust way faster.
Ahh, that's a misconception don't know the reason for it ,
You must have personal exp. with Iron chapati Tawa and Dosa tawa (India) and in other cultures also Lodge pans (US) , Blue steel pans (france) , Iron vok (china)are considered best utensil , due to its longevity and health benefits (natural nonstick among others )
Only thing that bad for them is the acidic food.
 
Naah, completely stainless steel utensils work too. Only aluminium cookware does not work.

I have the philips 4938 and i can tell you only stainless steel vessels with iron side bottom will work .
Just use a magent and see if it attracts to the bottom of the vessel,if it does then it will work.If it doesn't then the induction cooktop will beep for a few seconds and switch off.

Yes iron has the highest permeability http://en.wikipedia.org/wiki/Permeability_(electromagnetism)

In practice pure iron utensils is not possible and steel is used an alloy composed of iron. Stainless steel is simply an extra process on top of steel to prevent if from corrosion. Then there are cast iron utensils. Aluminum is mixed with stainless steel bottom to spread heat evenly in cookware

I used a magnet on http://www.snapdeal.com/product/bergner-stainless-steel-saucepan/1171776 and it sticks :)

Maybe it stops periodically to prevent over heating of the circuit inside.
I don't have an induction cooker yet but some of the steel utensils show rust. I think its because of the highly corrosive type of dish washing liquid we get now combined with the metal or that green nylon corrosive utensil cleaning pad. I can see utensils having some black powder on them even after washing them with clean water twice. The dish washing liquid have some buffing agent in them which probably corrodes steel on atomic level. Rub a finger on a steel plate and you'll know what I'm talking of.

Im talking about only 300W or less settings. Higher settings work without switching on off. Induction cooker has a overheating preventive circuit but im sure its not used in this case.

If a smps based circuit was used then switching on off through a relay is not required. Since a relay is a mechanical device its chances of breakdown is more than compared to a pure electronic controller. Cannot be sure as I dont want to void warranty by trying to investigate. :)

If stainless steel is showing rust Implies the process done on the steel to make it stainless wasn't top notch

The stainless steel cookware bought from snapdeal is induction friendly according to label.

Most non stick prestige cookware carry induction friendly label too. So its not necessary to buy a complete stainless steel cookware.
 
Maybe the reason why the 300watt 500watt settings switches On and OFF ,is that if it was having a pure 300watt setting where it consumes only 300watt continuously and remained On for the entire duration then it would have produced insufficient induction to heat up the vessel.
 
I personally bought two Philips HD4928's, one for mom and one for a friend. Both are very happy with the purchase. I love the fact how you can put a timer and power for an activity like boiling milk and just trust the cooktop to turn off at the exact right time as required. No more over-boiled milk mess in my house :)

www.flipkart.com/philips-hd4928-induction-cooktop/p/itmdgrvgufg7hgrf?pid=ICTDGRVGPEJP857U&otracker=from-search&srno=t_2&affid=atechiesth&query=philips+induction&ref=8b77c235-67b1-4cd0-a8a5-49ce4ed2e487

Special mention to the Free Induction Base Non Stick Tawa by Flipkart.
 
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