Thursday, November 8, 2012

LG India eyes Rs 1,000 crore sales from 3D TVs in 2012

Consumer electronics major LG India is working on clipping at 25 per cent uptick in turnover at Rs 6,000 crore from the television vertical in this calender year, with focus on the 3D segment.
"From the 3D division (under display vertical) alone, we are expecting Rs 1,000 crore and going forward that will be our priority. The overall TV segment should be about Rs 6,000 crore by the end of this year. We are betting big on the 3D within the TV segment," LG vice president (marketing), Lakshmikant Gupta told here.

The display vertical contributes about 25-30 per cent of LG's revenue in the country, he added. Last year the company had generated revenue of Rs 4,500 crore from the TV category. The Korean consumer durables major launched an 84-inch 3D TV over the weekend, and aims to sell 100 units in two months. "We will increase our market share to 45 per cent from 40 per cent in the 3D category," Gupta said. The domestic 3D TV market is likely to be 2.5 lakh units and LG aims to sell 1.2 lakh units this year, more than doubling last year tally of 50,000. The company also plans to strengthen its position in the flat panel space by increasing market share from 26 to 30 per cent.
Gupta said the gloomy sentiment in the industry has affected the growth. "Our categories used to grow in high double-digits, but that growth has come down. The overall consumer sentiment has been such that they have started to delay spending decisions".
"Till now we are growing at 10 per cent, we had targeted a higher growth than that at about 15 per cent. Currently it is looking well, though," he added.

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