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LG Electronics India plans to invest Rs 400 crore in the home appliance segment for the current calendar year.
The company is also targeting revenues of Rs 5,000 crore from the refrigerator category during the year.
The home appliance segment contributes 48-50 per cent to LG's total revenue. Speaking to Business Line , Dr Y.V. Verma, Director-Home Appliances, LG India, said. “This investment is to strengthen our portfolio in refrigerators, washing machine and microwave oven over the year.”
Gearing up for the summer, the company has launched a new line-up of 33 new models in refrigerators.
“With this new series, we will strengthen our market leadership position in the refrigerator segment with a share of 35 per cent. We are expecting a growth percentage of more than 25 per cent this year and targeting a turnover of over Rs 5,000 crore in the segment,” added Mr Verma.
The price range of refrigerators from the LG stable is between Rs 13,250 and Rs 1,86,500. The health-guard feature (with a four-layer filter) is available in the frost-free and Wonder Door series, in a price band of Rs 47,100 to Rs 1,86,500.
The high-end new range of LG Wonder Door Side-by-Side refrigerators is available in the range of Rs 1,25,000 to Rs 1,86,500. The direct cool refrigerators are available for 215 litres and above and priced at Rs 13,250 onwards.
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