The Hindu Business Line : LG sales at Rs 8,250 cr in 2006

Consumer durable company LG Electronics India today announced a turnover of Rs 8,250 crore for 2006, up by 10 per cent over the previous year. The overall contribution was 43 per cent from home appliances, 39 per cent from consumer electronics, 13 per cent from IT products and 5 per cent from GSM.

The company is expecting an overall growth rate of 15 per cent this year and has declared that its focus product categories will be flat panel displays and GSM phones. The company is targeting to achieve sales of 10 million handsets by 2009. LG India has also forecast a growth of 19 per cent in exports, which is expected to contribute Rs 950 crore to the total turnover in 2007.

Commenting on the strategies, which LG India will adopt to achieve growth, Mr Moon B. Shin, MD, LGEIL, said, "The successful implementation of Blue Ocean strategy across systems and products will be critical to our success this year. We have already rolled out products such asTime Machine TV and Chocolate phone as part of this strategy and the year 2007 will see us launching many more unique technologies and products. We will also strengthen our base as an export hub."

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LG sales at Rs 8,250 cr in 2006