The Hindu Business Line : LG Elec India turnover to cross Rs 10,000 cr

LG Electronics India Pvt Ltd (LGEIPL), a wholly-owned subsidiary of the South Korea-based LG Electronics, said that it would cross the Rs 10,000-crore turnover mark next year, as a result of a growth rate of over 220 per cent in the flat panel display (FPD) television segment.

"We plan to clock a turnover of Rs 10,000 crore by their fiscal ending in December 2007 and 32 per cent of it would come from the sales of colour television sets," said Mr Girish Rao, Vice-President Sales and Marketing, LGEIPL, on the sidelines of the launch of the company's festive season offer.

Gift offer

The company will be linking its marketing campaign to two of Cartoon Network's popular characters, Tom and Jerry. As per the offer, with every LG purchase, consumers will get a `toy gun popper', triggering which would roll out a paper on which a gift item, that the customer is entitled to is mentioned.

"We plan to achieve a turnover of Rs 2,500 crore from sales during the festive season beginning September 21 to October 21. Marketing expenses for the season has been fixed at Rs 100 crore," said Mr Rao. The gifts to be given out range from Fastrack sunglasses to 26" LG LCD television sets.

New models

The company also unveiled 11 new models of its new FPD range priced between Rs 30,000 and Rs 2.5 lakh, depending on the screen size and technology of the set.

On the exports front, LGEIPL, which sells refrigerators and televisions to West Asian and SAARC countries, will export the products to Europe and South America as well from next year.

The company had earned $100 million from exports in the last fiscal and aims to double the figure by 2007.

LGEIPL had clocked a turnover of Rs 7,500 crore for the year ended 2005 and is targeting a turnover of Rs 8,500 crore-9,000 crore for the year ending 2006.

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