Senior Correspondent, IndianRetailer.com & Retailer Magazine Oct 24, 2018 / 2 MIN READ
LG Electronics has announced that it plans to increase the share of premium products in India to boost overall sales and profit margins. Currently, premium segment constitutes 30 per cent of LG's global sales, including in India, but it plans to enhance this to 50 per cent with a renewed focus on the segment and a series of fresh launches.
As per leading media report LG Group Senior Vice President Head of Appliance Overseas Sales & Marketing Chris Jung said the revenue growth of LG Electronics in India "will be great".
He noted that the company will have to compete with Chinese firms on their price competitiveness, and therefore it is investing heavily in research and development.
( Source: PTI)
The operating profit was 79.5 percent lower than the average estimate, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.
The former managing director, Young Lak Kim, has been promoted to the position of Executive Vice President. He will be joining as Korea Sales and Marketing Head.
LG Electronics promoted its Chief Strategy Officer to its new CEO to nurture new business opportunities and focus on digital transformation.
In the coming years, LG Electronics India will focus on a new range of bigger capacity machines, Ashok Masnam, Product Group Head of LG, informed
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