Companies

LG India eyes 50% market share with new OLED TV range

Meenakshi Verma Ambwani New Delhi | Updated on January 12, 2018 Published on June 07, 2017


LG Electronics India is betting big on the super premium TV segment this year. The South Korean consumer electronics major on Wednesday launched its new OLED TV range with nine models priced in the range of about ₹3.25-30 lakh.

Rishi Tandon, Business Head-FPD, LG Electronics India, said: “The super premium TV segment has grown by about 100 per cent over last year. The segment, which was just about 3,500 units earlier, grew to about 7,000 units last year. We believe this will grow to about 20,000 units this year and with our range of unique products, we aim to have 50 per cent share in this segment.”

Tandon said the company’s aggressive focus on this segment was also strategic in nature, as it hoped to strengthen its positioning in the premium category across all products.

The company is also launching 52 new models to enhance its position in the overall flat panel TV segment. Tandon said consumers in India were fast transitioning to smart-TVs and the segment was witnessing a growth rate of 60 per cent.

At present, the overall flat panel TV market is pegged at about 10 million units, including non-smart TVs, smart TVs and the 4K TVs.

LG India had earlier said it would soon launch a range of premium products under a new ‘Signature’ brand. The company has kick-started these plans with the launch of its top-of-the-line LG Signature OLED TV models. By next month, it is likely to launch refrigerators, washing machines and air-purifiers under brand Signature.

Published on June 07, 2017
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