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Our Bureau

Kolkata , April 8

LG Electronics India Pvt Ltd (LGEIL) has targeted a turnover of between Rs 8,000-8,500 crore during the year ending December 31, 2005.

In 2004, the company recorded a turnover of Rs 6,500 crore, according to Mr Salil Kapoor, LGEIL's Head of Marketing.

Speaking to newspersons at a function held here to announce the launch of dishwashers, washers and washer dryers, Mr Kapoor said LGEIL currently has a 37 per cent share of the domestic market for washing machines. With the introduction of the dishwashers and washer dryers, the company was hopeful of further consolidating its position in the home appliances market segment.

Currently, washing machines account for about 8 per cent of LGEIL's turnover.

According to him, the products that were introduced have been targeted at the top-end of the market. These premium products have been priced at between Rs 30,990 and Rs 41,290.

Mr Kapoor said that, besides addressing the needs of the domestic market for electronics, white goods and home appliances, LGEIL also has ambitious plans for GSM mobile handsets.

The company has already set up a plant in Pune for manufacturing GSM mobile handsets.

LGEIL has earmarked Rs 200 crore for branding, endorsement and advertisement initiatives in the current calendar year.

Among the brand ambassadors for various LG products would be icons from the world of cricket and entertainment, according to Mr Kapoor.

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