Consumer electronics maker LG India target to corner 27% TV market in 2019

LG India targets to corner around 27% of the television market this year, helped by the launch of new-generation technologies like artificial intelligence (AI) to the affordable segment.

Apart from this, the consumer electronics maker will be retaining its market share in 55-inch and above screen size, where LG has around 30% market share, and in OLED, where it dominates with more than 70% market share. 

The company will continue to invest in its Indian operations to expand and cater to the growing demand in both affordable and premium segments. 

Younchul Park, Director (Home Entertainment) of LG Electronics India, said, "We are expecting more than 27 per cent share (volume-wise) on the total Indian market demand helped by this new (AI-assisted models)."

Last year, LG had 25% market share of the total Indian TV market. 

The Indian TV market is expected to be around 14 million units. The majority of this market is controlled by three leading brands, including Samsung, LG and Sony. 

"The competition is tough after every year but the important thing is that the segment of the large screen is growing rapidly. That's why LG is investing in those large premium sets," said Park.