LGEIL aims to churn Rs 1,140cr sales in'07 with Time Machine

New Delhi, Dec 11 (UNI) Korean consumer durables major LG today unveiled its latest high-end LCD and Plasma Television and said it aims to garner sales of Rs 1,140 crore in 2007 with the Cricket World Cup beginning in March next year.

The company is confident of reaping huge benefits with the festive season just round the corner.

''We are aiming to hold high market share not only in numbers but are also confident of becoming the number one in flat panel displays (FPDs) by February next year with the Cricket World Cup starting in March,'' LG Electronics India Pvt Ltd (LGEIL) National Product Group Head Prashant K Das told reporters here.

The company is confident to sell 4,00,000 units of flat panel FPDs in 2007 from 1,30,000 units sold this calendar year.

''At least 10-12 per cent will be contributed by our latest offering Time Machine,'' Mr Das said.

The company is also contemplating an assembling plant at its Pune facility by June next year for manufacturing the 100 per cent imported TV. ''We may think of manufacturing the Time Machine TV at our existing plant in Pune by June 2007. It will depend on how the product is received in the Indian market,'' LGEIL Deputy MD Moon Bum Chin said.

LGEIL enjoys a market share of 46 per cent in Plasma TV while its share in the LCD TV space stands at about 33 per cent. Post the launch of the company's top-of-the-line product it aims to tap a market share of 42-43 per cent in flat panel displays by next year.

The Time Machine TV launched today is available in LCD and Plasma model both with the prices varying between Rs 1,40,000 and Rs 2,40,000.

The 80 GB Time Machine TV allows the end user to record one programme while watching another live event on the screen, giving the viewer full control over 'time'. One can pause, record, play, forward and even rewind live TV with this latest offering by LGEIL.

The company claims to offer a better deal to the users viz-a-viz the DTH players like dishtv with Time Machine which comes with an in-built DVD recorder unlike any outside accessories like set top boxes (STBs) with the former one.

The company has a product portfolio of washing machines, air conditioners, GSM handsets, refrigerators, colour TVs, computer monitors, etc.

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