Financial Daily from THE HINDU group of publications
Wednesday, Sep 07, 2005
Financial Daily from THE HINDU group of publications Wednesday, Sep 07, 2005 |
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Radio/TV Marketing - New Products & Services Variety - Entertainment & Leisure LG unveils DTH-ready TV — Aims to tap market of 40 million households Our Bureau
Kolkata , Sept. 6 LG Electronics India Pvt Ltd (LGEIL) today announced the national launch of India's first DTH-ready television, which is targeted at the "over 40 million non-cable and satellite households" located across rural and semi-urban India. The company hopes that three per cent of its revenue from sales of colour televisions (CTVs) in 2005 would be accounted for by this new product offering, which will be marketed under the LG Digi Direct brand, according to Mr Neeraj Bahl, Regional Manager (East). Along with the Digi Direct, LGEIL also launched `Slimagic', the world's slimmest flat TV, and `X-Wave', which is stated to be India's first CTV with wireless audio transmitter. Speaking to newspersons, Mr Bahl said that LGEIL's "strategic decision" to launch the Digi Direct CTV was aimed at tapping the huge market comprising over 40 million non-cable and satellite households in rural and semi-urban India. "The idea behind launching such a product is aimed at complementing the services provided by DTH service providers in these segments. LGEIL, with over 150 area offices, will reach all upcountry markets of India for the distribution of this innovative product." According to him, LGEIL has 27 per cent share of the domestic market for CTVs. This is expected to go up to 30 per cent by the end of the current calendar year. During the year ended December 2004, LGEIL notched up a turnover of Rs 6,500 crore. The company's sales target for calendar year 2005 has been pegged at Rs 9,000 crore. About 35 per cent of the company's turnover this year would be accounted for by CTV sales. Mr Bahl said that CTV sales generally pick up during the festive season in the run-up to Durga Puja and Diwali, when special offers and discounts are announced. During the festive period last year, LGEIL recorded sales of over Rs 1,000 crore. This year, sales during the ensuing festive period are expected to touch Rs 1,500 crore.
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