Financial Daily from THE HINDU group of publications
Thursday, Oct 02, 2003
Financial Daily from THE HINDU group of publications Thursday, Oct 02, 2003 |
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Marketing
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Market Shares LG hopes Rs 1000 cr turnover Our Bureau
Chennai , Oct. 1 LG Electronic India Pvt Ltd has set aside Rs 60 crore for the promotion of its products during the festive season and hopes to rake Rs 1,000 crore, according to Mr Kwang-Ro Kim, Managing Director, LG Electronic India Pvt Ltd. Mr Kim was in Chennai for the launch of its 21-inch flat colour television, Flatron, for the festive season. Mr Kim said that according to ORG, in August, the company had a market share of around 17 per cent to 18 per cent in all TV segments and a 24.6 per cent share in flat colour televisions. This year, the company has aimed at a turnover of Rs 4,500 crore, he said. The company will spend Rs 500 crore in the next three years in modernising, development, automation of the plant and upgradation of the research and development centre at Noida. Among the new products, in December, the company would be launching its laptop, Mr Kim said. Almost 70 per cent of the total sales of the company's products are made in upcountry markets, with the rest being sold in urban centres, according to Mr Kim. The company has set up hubs in all the States to sell and services all the products, Mr Kim said.
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