LG targets video, audio segments
The company would also launch DVD recorders and introduce car audio and MP3 players shortly.india Updated: Jul 13, 2006 15:20 IST
Consumer electronics major LG Electronics India Limited is targeting to bag the top slot in the digital audio video (DAV) segment in India with the launch of new systems.
The company, with the help of worldwide tie-up with US-based DiVX, would launch DVD players with bundled movie content, LG Business Group Head (Consumer Electronics) Amitabh Tiwari told reporters.
The company would also launch DVD recorders and introduce car audio and MP3 players shortly, Tiwari said.
Speaking about revenues, he said that in 2005, the DAV segment of LG earned Rs 180 crore, which was expected to touch Rs 300 crore in the current calendar year.
Tiwari said that by 2007, the DAV segment was likely to fetch a revenue of Rs 450 crore.
In terms of overall sales, the company was likely to post a turnover of Rs 9000 crore in the current year, up from Rs 7500 crore in 2005.
Tiwari said that LG was aiming at a 38 per cent market share in the DVD segment. There were nearly 50 brands competing in this category.
LG was targeting to sell 1.2 million units of DVD next year, where the industry size was four million units.
About the audio segement, he said that the industry was witnessing de-growth with major players showing signs of registering falling market share.
This was due to shift in consumers preference towards the home-theatre segment.
LG is also a leading player in other categories like CTVs and domestic appliances.