LG to enter wine sellers segment, invest Rs 360 Cr for C-durables

Kolkata, Apr 17 (UNI) The LG Electronics will invest Rs 360 crore for India specific consumer durables hoping to increase percentage in the market share to make it a Rs 1100 crore company by next calender year.

LG Electronics India Pvt., Ltd (LGEIL) Managing Director Moon B Shin told a news conference here today that India specific requirment products like variant refrigerators, air conditioners, TVs, washing machines, micro ovens, PC and GSM handsets would be launched from next month.

Rs 360 crore investment was a jump from Rs 260 crore in 2007.

Shin said research works in its R&D found there was huge hidden demands in India and the company was working out to design, produce and launch those one after the other.

" We have an agressive line up of products this year and our focus will be on the IT, GSM, and flat panel display segments. We have recently launched the 32" Plasma TV and 22" LCD TV and now entering the air purifiers and wine sellers segment" said Shin.

He said wine sellers segement was now on experiment in the R&D to be in market in right time.

LGEIL, a subsidiary of billion LG Electronics, South Korea, produces 13 items in its Pune and Nodia factories, planned to launch 100 premium brand shoppes with target audience by this year.

With present turnover of Rs 9500 crore and market share of 15 per cent in 2007, LGEIL targeted to make Rs 1100 crore company by 2008 emphasing newer consumers in untrodden areas.

Shin said India's company also exported goods to forty countries fetching 230 million US dollars in last year.

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