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NEW DELHI
JANUARY 16, 2007
LG Electronics India, the country's leading consumer durable company
announced their annual results for calendar year 2006 at Rs 8250 crore. The
company is expecting an overall growth rate of 15 percent this year and has
declared that their focus product categories will be Flat panel displays and GSM
phones.
LG India has also forecast a growth of 19 percent in exports, which is
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 is expecting to become the market leader in LCD TVs as well. The
other focus category will be GSM, in which the company is aiming to be amongst
the top three players. The company is also targeting to achieve sales of 10
million handsets by year 2009.
Commenting on the strategies, which LG India will adopt to achieve growth,
Moon B Shin, MD, LGEIL 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 year 2007 will see us launching many more unique
technologies and products. We will also strengthen our base as an export
hub."
LG India achieved a turnover of Rs 8,250 crore in 2006, posting an overall
growth of 10 percent. The overall contribution was 43 percent from Home
Appliances, 39 percent from Consumer Electronics, 13 percent from IT products
and five percent from GSM. Page(s) 1
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