The South Korean technology major LG India on Monday upped the ante to grab a larger pie in the consumer durables market with the launch of its super premium refrigerators and water purifiers.
The refrigerators priced at Rs 1,76,500 and water purifiers at over Rs 39,000 would be imported and targeted at the niche market for super premium luxury products.
“These are flagship products of the company aimed at boosting our brand image apart from catering to the niche demand for super premium luxury durable products,” said Soon Kwon, managing director of LG Electronics India.
As the demand surges for the consumer durables in the country, LG has been expanding its product portfolio to cater all types of consumers. “Along with premium and luxury products we are also launching products that appeals to a rural consumer,” said YV Verma, COO, LG India.
The company expects its 2011 sales to grow at 30% such that over the next three to four years its revenues from India would surpass those from Korea. In 2010 its revenues from India stood at R16,000 crore while from Korea it stood at $7 billion (Rs 31,500 crore.)