LG posts turnover of Rs 8250 crore

Chennai, Jan 15 (UNI) Leading consumer durable company LG Electronics India today announced the annual results for the calendar year 2006, posting a turnover of Rs 8,250 crore.

The overall contribution was 43 per cent from home appliances, 39 per cent from consumer electronics, 13 per cent from IT products and 5 per cent from GSM, the company said in a release here.

Expecting an overall 15 per cent growth rate this year, the company declared that their focus product categories will be Flat panel Displays and GSM phones.

LG India also forecasted a growth of 19 per cent in exports, which was expected to contribute Rs 950 crore to the total turnover in 2007.

Having achieved leadership position in Plasma Display Panels and Flat TVs, the company was expecting to become the market leader in LCD TVs as well.

The other focus category will be GSM, in which the company was aiming to be amongst the top three players. It was also targeting to achieve sales of 10 million handsets by 2009.

Commenting on the strategies which LG India will adopt to achieve growth, LGEIL Managing Director Moon B Shin said "the successful implementation of Blue Ocean strategy across systems and products will be critical to our success this year.'' "We have already rolled out products like Time Machine TV and Chocolate phone as part of this strategy and the year 2007 will see us launching many more unique technologies and products," he said adding "we will also strengthen our base as an export hub." LG Electronics India, a wholly owned subsidiary of LG Electronics, South Korea was established in January 1997 in India.

One of the most formidable brands in the consumer durable and home appliances segment, LGEIL has an impressive portfolio of colour televisions, washing machines, airconditioners, microwave ovens, refrigerators, PCs, vacuum cleaners, audio systems, DVDs, PDPs, optical storage devices, laptops and GSM mobile phones.

UNI