LG India targets Rs.4.5 bn from audio video segment
May 8, 2007 - 5:26:34 PM
New Delhi, May 8 - LG Electronics India Pvt. Ltd. - Tuesday said it is targeting Rs.4.5 billion worth turnover by 2007-08 in the digital audio video segment with the launch of a series of its high-end audio and video products.
'Audio video is a focus category for LG, and we will be spending close to Rs.5 crore - in the second quarter of the current year for marketing these products and aggressively targeting the huge consumer base,' said Moon Bum Shin, managing director, LGEIL.
'We are confident of achieving a turnover of Rs.450 crores - in the digital audio video segment by year end. This translates into a 70 percent value growth in the segment for LG even though the industry itself is growing at a rate lower than 10 percent,' he added.
The new products launched Monday include MP3 and MP4 music players, audio systems for cars and a dual-format high-definition disc player.
While the MP3 and MP4 players are priced from Rs.3000-Rs.12,000, the car audios would be available within a price range of Rs.5000-60,000.
The South Korean electronics major LG's wholly owned Indian subsidiary had a turnover of Rs.82.5 billion in 2006. It has set up two manufacturing units in India in Greater Noida and in Ranjangaon near Pune for mobile phones, colour televisions, microwave ovens, refrigerators and optical disc drives.
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