LG plans big bang India expansion
Consumer electronics major LG India has set a sales target of Rs 19,000 crore for the country, across all its products by the end of 2010.india Updated: Jun 18, 2010 21:39 IST
Consumer electronics major LG India has set a sales target of Rs 19,000 crore for the country, across all its products by the end of 2010.
The company has grown about 45 per cent — 15 per cent in excess of its own target, said Y.V. Verma, COO, LG Electronics.
“Refrigerators and air conditioners continue to be the biggest contributor,” said Verma. “We have noticed that consumers now make purchases even beyond the summer season.”
Verma claims that LG, which has raised product prices 1.5 to 2 per cent across products in the country, has benefited from a better better distribution network and reach than its competitors. The company is setting up a network of exclusive Brand Shoppes, especially in smaller cities and towns.
LG is also set to launch its 3D LCD television next month. “The market for 3D screens is not big but there are aspiration consumers,” Verma said. “Our screens do not cause any eye-strain for viewers.” LG plans to offer its 3D TVs at an 8-10 per cent premium over the current market rate.