LG to focus on value addition, no discounts this festive season

New Delhi, Oct 9 (UNI) Consumer goods giant LG Electronics India has come out with a novel strategy not to offer any discounts during the oncoming festival season.

''After a lot of study in the Rs 25,000 crore consumer durables business, we found that customers are more concerned about the quality of product, customer care, value addition rather than any slide in the prices,'' company's Director (sales and marketing) V Ramachandra told reporters.

The discounted products destroys the value of brand and value of trade, he said.

''We want to develop our products and meet the consumers demand.

With the trend and lifestyle of people changing, price is not a major constraint,'' he added.

The company eyes a turnover of Rs 2,500 crore in this festive season and will spend Rs 22 crore for promotion and advertising of its products.

The company plans to launch a slew of products like washing machine, high-end Dios refrigerators and LCD TV before the festive season.

Leading companies Samsung, Haier, Whirlpool are also not offering discounts this season.

The company today launched Pearl Blach LCD TV range available in 32 inches and 42 inches sizes.

The LCD TV is priced at Rs 59,000 and Rs 98,000 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.

UNI