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LG to launch international range of audio systems

17-August-2002
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LG to launch international range of audio systems

LG Electronics India is launching its international range of audio systems in India after weighing the plan for almost three years now. The soft launch includes a home theatre and two DVD players. The top-end DVD player is priced at Rs 24,000.

The audio business in India is estimated to be around Rs 1,000 crore and has reported a decline of 7 per cent in June 2002.

According to industry sources, Philips leads the segment with a 43 per cent market share followed by Sony at 14 per cent. Other major international brands include Thomson and Panasonic. The high end systems account for 40 per cent of the market in value terms.

LG commenced its Indian operations in 1997 and has a presence in colour televisions, air conditioners, refrigerators, personal computers, washing machines, microwaves and vaccum cleaners.

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