Financial Daily from THE HINDU group of publications
Wednesday, Feb 11, 2004
Financial Daily from THE HINDU group of publications Wednesday, Feb 11, 2004 |
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Corporate
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Outlook LG targets sales of 4 lakh ACs Our Bureau
New Delhi , Feb. 10 CONSUMER electronics and durables major LG Electronics India Pvt Ltd (LGEIL) is targeting a sales of four lakh units of air-conditioners (ACs) in 2004, amounting to a turnover of Rs 850 crore, on the back of encouraging growth in the previous year. Announcing that the company recorded sales of three lakh AC units in 2003, up from two lakh units sold during the previous year, Mr Salil Kapoor, Head-AC Division, LGEIL, said, "The AC division has experienced a growth of 50 per cent. The division has achieved cumulative sales of 7.5 lakh ACs since its inception in 1997." According to Mr Kapoor, "The division closed the year 2003 at Rs 500 crore, translating to a market share of 30 per cent." In the split AC category, LG has witnessed a 123 per cent unit growth, selling 70,000 units in the year 2003 compared with 31,000 units during the previous year. The company currently has a market share of 30 per cent in the room AC (window and split) segment as per the Francis Kanoi report of April 2003. The company closed 2003 with a sales turnover of Rs 4,500 crore and is targeting a turnover of Rs 7,000 crore in 2004.
More Stories on : Outlook | Air-conditioners & Refrigerators | Consumer Electronics
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