LG aims at FPD TVs for growth

Kolkata, Sept 13: LG Electronics India Pvt. Ltd., the wholly owned subsidiary of LG Electronics, South Korea, is expecting the Flat Panel Display (FPD) television segment to grow substantially with the changing tastes of the Indian consumers.

The company hopes to sale around 50,000 flat panel display models and garner Rs 375 crore business from the segment in the current year, LG's business group head- consumer electronics- Amitabh Tiwari said.

Tiwari said the company occupying around 33 per cent market share in the segment hopes to catch up with Samsung, the market leader in the segment in India, in the near future.

The FPD market segment in 2006 was 1,50,000 units and it is poised to grow to 2,90,000 units in 2007, he said.

Tiwari unveiled the expansion of FPD portfolio with launch of six new models of LCD TVs and four models of Plasma Display Panels. The products were priced between Rs 29,000 to Rs 20 lakhs.

LG Electronics India is planning to come out with new models in the audio visual segment and has set a target of Rs 8500 crore turnover in 2006 as against Rs 7500 crore in 2005, vice-president - sales and marketing- Girish V Rao said.

UNI