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LG invest Rs 80 crore for new products in India

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LG Electronics recently announced that the company will be investing around Rs.80 crores to develop products for sale in the Indian market. However, the company has not given any timeframe for the investment.    

The products come under the banner 'Stars of India' series, across categories, including LCD TVs, refrigerators, washing machine and air conditioners, among others.   

The company will make a total investment mainly on customising products as per Indian requirements to tap potential in the respective segments and ensuring profitability in them.

For instance, its top loading washing machine would come with audio assistance speech technology, providing assistance in both Hindi and English. Besides, it has also launched microwave ovens with up to 56 Indian auto cook menu.

Similarly, in its AC products, it has introduced Aero Comfort System, which will enable customers to regulate both the AC and the ceiling fan.

LG said the new series would make a contribution of about 11 per cent of its turnover by the end of this year. The company had achieved a turnover of Rs 10,730 crore in 2008.

Best Selling Home Appliances & Entertainment Products:
TVs
DVD Players
Microwave Oven
Air Conditioner
Vacuum Cleaner
Food Processor
Tea / Coffee Maker

Related News:
LED TV to be introduced in the Indian Market 
LG launches LG-GC900 Viewty Smart Phone in Korea 
LG to sell 10 million Cookie phones this year 
LG unveils GM200 & KM335 handsets

Related Books:
The Design of Home Appliances for Young and Old Consumers
Life- Saving Appliances 2003 Edition
Colonial Homes: 165 Plans with American Style

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Posted by Nilakshi Handique on 29 April, 2009 2:34:35 PM IST #