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LG India sets Rs 19 cr-sales target

Electronic home appliances giant, LG Electronics India, is reported to invest $300 million in the next three years


June 28, 2010  |  comments ( 0 )  | 
LG India sets Rs 19 cr-sales target

Electronic home appliances giant, LG Electronics India, is reported to invest $300 million in the next three years and expand its product portfolio to surge its turnover from Indian operations to $9 billion (Rs 45,000 cr) by 2015. The company is planning to add 250 more products across categories in India by the end of the year. The company will foray into new categories like water purifier, air purifier and built-in-system kitchen while aggressively pursuing the existing categories. The company is planning to set up a chain of exclusive premium stores. It will launch 100 AC solution plazas and mobile galleries as well as 100 mobile stores, this year. LG India is likely to close this year with a turnover of Rs 19,000 crore. LG India currently contributes around 6 per cent to LG's global business. It will increase to 12 per cent by 2015. Expecting consumer durable to grow by 20 per cent every year, the company claims to grow more than the industry; around 30 per cent in the first half of 2010. To attain the goal, the company has embarked on a new strategy. The proposed investment will be used for product development and assembly operations. It is also planning to set up a new plant in South India and the location will be finalised by the year-end.


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