LG India sees Rs 9,000 cr turnover by Dec '07

New Delhi, Oct 9 (UNI) LG Electronics India Pvt Ltd (LGEIL) today said it expects a turnover of Rs 9,000 crore from its various products by the year-end.

''We are hoping to clock a turnover of Rs 9,000 crore from our various high-end products by December this year, as against Rs 7,680 crore last year. Besides, various products' launch will be the key driver for growth,'' said LGEIL Consumer Electronics (Business Head) Amitabh Tiwari while launching Pearl Black 'LCD TV' here today.

With a market share of 35 per cent in the Plasma and 30 per cent in the LCD segment by March 2008, the company expects to become the market leader in the flat panel segment by 2008, he said.

Currently, it holds 23 per cent and 28 per cent in LCDs, Plasma respectively.

Pearl Black LCD TV features a glossy black finish, ring-shaped stand and wave-inspired bezel design. The ring shaped stand is the key feature of the LCD series. The ring is available in red and black.

The company expects to sell about 20,000 units of Pearl Black in the next 45 days and will spend Rs 22 crore in the next three months on promotion and advertisement of its products.

''LG is witnessing an exponential growth in this category. An increasing demand across India for state-of-the-art technology keeps this segment in increasingly good business. With the launch of the Pearl Black LCD series, LGEIL plans to capture around 30 per cent of the FPD market by year end,'' said company's Director (sales and marketing) V Ramachandran.

LG also plans to launch a slew range of CRT TVs, home theatre systems and microwaves this year.

Pearl Black LCD TV available in 32 inches and 42 inches wide screen sizes is priced at Rs 59,000 and Rs 98,000 respectively.

LGEIL, a wholly-owned subsidiary of South Korea-based LG Electronics, is in business of consumer electronics, home appliances, IT hardware and mobile communications space.

LGEIL, at present, has two manufacturing units in Pune and Noida.

UNI