LG India looks to 3D TVs to boost sales
September 17, 2012
LG Electronics India is betting on 3D televisions to boost sales in home entertainment segment that contributes around 30 per cent of the company’s business in India. “We are targeting business worth Rs 1,000 crore from 3D TVs and aim to consolidate our position in the Flat Panel TV segment with 30 per cent market share,” said L K Gupta, Vice President of Marketing, LG India. It currently has a 25 per cent share in Indian flat TV market.
The company has identified technology and design as the key factors for the home entertainment business, and intends to introduce new models in the 3D TVs with advanced technology. LG currently sells 3D LED, 3D Ultra Slim LED, 3D Home Theatre systems and 3D blu-ray players. The company is also planning to introduce a few more products in the 3D category. The 3D category currently contributes around 10 per cent of LG’s flat panel TVs in India. The company hopes that 3D would contribute around 30 per cent by end of this year.
“To ensure the numbers we have an aggressive marketing strategy with a target investment of Rs 100 crore in flagship product communication,” Gupta said.
The flat panel TV market in India is expected to touch 55,000 units in 2012 up from 38,000 units in 2011.