LG to touch Rs 10,000 cr turnover by 2007

New Delhi, Sep 20: Adding new flat panel display (FPD) range of colour televisions to its cap, LG Electronics India (LGEIL) today said that it will touch Rs 10,000 crore turnover mark by next year.

''We will achieve a total of Rs 10,000 crore market turnover by 2007, of which the maximum 32 per cent will come from colour televisions, 15-20 per cent from ACs, 8-10 per cent from washing machines, 10 per cent from the IT sector including our computers and mobile phones, and up to 9 per cent from referigerators,'' LGEIL Vice President (Sales and Marketing) Girish Rao told reporters here.

LG India has posted a turnover of Rs 7,500 crore in 2005.

The company, which exports its refrigerators and televisions to West Asian and SAARC countries, will start exporting these products to European countries also from next year.

It earned 100 million dollars from exports in the last fiscal and aims to double the figure this fiscal.

Announcing the marketing strategy and business plans for this festive season, Mr Rao said the company targets a turnover of Rs 2,500 crore during the season and aims to grow by 220 per cent in the FPD televisions space by the year-end.

The new plasma display panels launched today included the 60 PY2R, 50 PC1R, 42PC1R and 42PC3RV. The PDPs are equipped with technology to eliminate glare and double images.

In the LCD category, models showcased included LC2R series, in 26, 32, 37 and 42 inches and LB1R series in 32 and 42 inches.

LGEIL Business Group Head (Consumer Electronics) Amitabh Tiwari said, ''The FPD colour televisions which we shocased today will be in the price range of Rs 32,000 (20 inch) to Rs 19.5 lakh (71 inch).'' A month-long promotional offer -- LG Toon Dhoom -- to cash in on the festive season was also annonced by the company, which will start tomorrow and go on till October 21, during which the customers will get a gift on purchase of any LG product.

UNI