LG hawks enhancements in 21% growth push
South Korean LG Electronics is betting on localized innovations — like a washing machine with speech technology that offers instructions in Hindi — to grow its revenue to Rs 13,000 crore by December 2009, a growth of 21 per cent. Ruchi Hajela reports.
By Ruchi Hajela | Hindustan Times, New Delhi
UPDATED ON APR 25, 2009 12:26 AM IST
South Korean LG Electronics is betting on localized innovations — like a washing machine with speech technology that offers instructions in Hindi — to grow its revenue to Rs 13,000 crore by December 2009, a growth of 21 per cent.
A microwave oven with up to separate keys for 56 Indian menus and a remote control that can be pre-programmed to regulate both the ceiling fan and the air conditioner is another product in LG’s drive to fight off competition in an industry with big names like Philips, Videocon and Samsung.
The products are priced 2-5 per cent higher than what regular frill-free versions would cost and generate higher
profits than the company’s other offerings.
LGEIL has spent close to Rs 55 crore in carrying out ‘Indian Insights Products’ research and interviewed 3,500 Indian buyers to study insights into needs and in-demand features.
“We are not in a price war, our strategy is to play different with me-only products and customers are ready to pay for them,” Moon Bum Shin, managing director, LG Electronics India Ltd told Hindustan Times.
The value-added category was launched last year and contributed close to 10 per cent of the company’s annual revenues.
LGEIL’s revenues grew 12 per cent per cent to Rs 10,730 crore at the end of December 2008 from Rs 9,500 crore a
year ago.
India’s domestic aviation operations nearing pre-pandemic levels
Bloomberg
UPDATED ON JAN 23, 2021 10:54 PM IST
As many as 257,613 passengers flew locally as on Jan. 22, compared with 30,000 passengers that traveled by air when such flights were restarted on May 25, Puri said in a Twitter post on Saturday.
Oil industry reels as Joe Biden targets fossil fuels in first days
Bloomberg
PUBLISHED ON JAN 23, 2021 06:25 PM IST
- Officials are worried that technical permitting decisions are being placed in the hands of political appointees, rather than expert regulators in the field. And they’re concerned permits -- or simply changes to them -- will be delayed for existing drilling operations.
IT giants Apple, Google welcome Joe Biden's new immigration reforms
PTI, Washington
PUBLISHED ON JAN 23, 2021 05:14 PM IST
On the day one of his presidency on Wednesday, Biden sent a comprehensive immigration bill to Congress which proposes major overhauls to the system.
PMC Bank fraud: ED arrests Viva group MD, consultant
By Vijay Kumar Yadav | Edited by Abhinav Sahay, Mumbai
PUBLISHED ON JAN 23, 2021 03:31 PM IST
- ED's money laundering probe in the PMC Bank case began after the Mumbai police registered a criminal case in September 2019 against HDIL, its promoters Rakesh Wadhawan and Sarang Wadhawan among others.
Gold prices start the week at ₹48,332 per 10 gram, fall to ₹48,861
By hindustantimes.com | Written by Meenakshi Ray, New Delhi
PUBLISHED ON JAN 23, 2021 11:19 AM IST
Gold price was up in the national capital on Monday with a recovery in international prices and rupee depreciation, according to HDFC Securities.
Fuel prices surge once more. Check what people will have to pay in major cities
By hindustantimes.com | Edited by Shankhyaneel Sarkar, Hindustan Times, New Delhi
PUBLISHED ON JAN 23, 2021 11:11 AM IST
Petrol prices in Delhi rose to ₹85.70 and diesel prices were up by 15 paise to rise to ₹75.88 per litre.
RBI proposes stricter norms for non-banks
By Gopika Gopakumar, Livemint, Mumbai
PUBLISHED ON JAN 23, 2021 07:39 AM IST
The regulator proposed to classify the shadow banks into four categories, depending on their systemic importance and potential risk to the stability of financial system stability.
Markets skid amid weak global cues
By Nasrin Sultana, Livemint, Mumbai
PUBLISHED ON JAN 23, 2021 07:37 AM IST
Stocks in the Asia-Pacific also traded lower, with Hong Kong’s Hang Seng falling 1.6%, China’s Shanghai Composite 0.4%, Japan’s Nikkei 0.44% and South Korea’s Kospi 0.64%.
CSR offences by firms now a ‘civil wrong’, not a crime
By Rajeev Jayaswal
PUBLISHED ON JAN 23, 2021 05:25 AM IST
In line with a commitment made by the finance minister, the government formally notified that non-compliance with CSR provisions would be a “civil wrong,” not a crime, and shifted such violations to a penalty regime, two officials said, requesting anonymity.
Intel tumbles after new CEO recommits to chip manufacturing
Bloomberg
PUBLISHED ON JAN 22, 2021 08:00 PM IST
- Keeping chip production in-house may be bad for Intel because its manufacturing technology has fallen behind Taiwan Semiconductor Manufacturing Co., which makes chips for many of Intel’s rivals. If the US company can’t catch up, its products will become less competitive, lose sales and market share.
Indigo Paints IPO garners robust response; subscribed 117 times on final day
PTI, New Delhi
PUBLISHED ON JAN 22, 2021 06:34 PM IST
The price band was fixed at ₹1,488-1,490 a share for the initial share-sale, which was open for public subscription during January 20-22.
India will be role model on how to vaccinate billion people at scale: Nilekani
PTI, New Delhi
PUBLISHED ON JAN 22, 2021 06:02 PM IST
Speaking at Redseer's Ground Zero 4.0 event, Nilekani spoke on how to build for scale in India that presents a massive opportunity with a booming internet penetration and rising adoption of digital services.
Govt has pledged strict foreign investment rules for e-commerce, says CAIT
Reuters, New Delhi
PUBLISHED ON JAN 22, 2021 05:34 PM IST
India's e-commerce retail market is seen growing to $200 billion a year by 2026, from $30 billion in 2019.
Iran starts ramping up oil production to pre-sanctions levels
Bloomberg, Tehran
PUBLISHED ON JAN 22, 2021 04:47 PM IST
- Iran has been subject to tough US sanctions since 2018, when the administration of then-President Donald Trump unilaterally withdrew from an international deal that restricted the Middle Eastern country’s nuclear activities. Its crude production was below 2 million barrels a day for most of 2020.
Elon Musk targets telecom for next disruption with Starlink internet
Bloomberg
PUBLISHED ON JAN 22, 2021 04:40 PM IST
SpaceX has told investors that Starlink is angling for a piece of a $1 trillion market made up of in-flight internet, maritime services, and demand in China and India.