LG Electronics is looking for a Rs 8,500 crore (Rs 85 billion) turnover in current financial year and plans to launch a host of products in India including specialised refrigerators for the pharmaceutical industry.
In an interview with Business Standard, Girish V Rao, vice president, sales said the company targetted exports of $100 million in the current fiscal year.
LG has already developed the special purpose refrigerator and commercial production will commence next year. The product with its unique features will be an advantage to the industry, especially to retail chemists and druggists.
Apart from that within a short period LG will launch three door refrigerators and steam based washing machine. He also said, the company will rapidly step up the sale of GSM moblie phones and notebooks.
It has ambitious plans to increase the sale of mobile phones to 2 million by 2006 from the present 600,000.
He said that during Jan - June 2005 the company had achieved total sale of Rs 115 crore (Rs 1.15 billion) in Kerala.
LG has launched its special Onam sales campaign here on Wednesday with a targetted sale of Rs 122 crore (Rs 1.22 billion) during August and September.
According to him LG's future plans would be based more on IT and communication based products apart from consumer durables where they are the market leaders.
Two manufacturing units at Noida and Pune will cater to the needs of the Indian market, Asian and African markets. There will be added manufacturing facility at Pune for producing mobile phones.
He said that there was huge potential for products like dish washer in Indian market. Of the total sales of the company CTV contributes the highest with 25 per cent followed by refrigerators and ACs.
He said that LG had chalked out plans to open more LG brand shoppe in the country and six such shoppes will be launched in Kerala soon. In Kerala LG targets total sales to the tune of Rs 305 crore (Rs 3.5 billion) in 2005-06, which was Rs 195 core (Rs 1.95 billion) in 2004-05.
© 2025