Top Story

e4m_logo.png

Home >> Marketing >> Article

LG aiming for the top slot in automatic washing machines

25-May-2002
Font Size   16
LG aiming for the top slot in automatic washing machines

Consumer durables company LG Electronics India (LGEIL) plans to displace IFB to emerge as the market leader in the fully automatic washing machines segment by the end of 2002.

LG also plans to expand its production facilities to the south and western parts of the country. Maharashtra has been identified as one of the places where production could start soon. The company has a facility in Noida currently.

According to sources, LG is targeting an annual turnover of Rs 131 crore for the year in the fully automatic washing machine segment — an almost 100 per cent growth from its previous year’s turnover of Rs 67 crore. This would enable LGEIL to capture a 25 per cent market share in this category, up from the current 12 per cent.

LG unveiled a new range of washing machines — Turbo Deluxe, Turbo Choice and Fuzzy Nova priced at Rs 18,400, Rs 16,300 and Rs 14,700, respectively.

According to company sources, it has targeted a turnover of Rs 360 crore from washing machines this year and a sale of about 3.5 lakh units. It also hopes to capture a 27 per cent market-share in the washing machine segment.

LG has already invested Rs 140 crore and plans to increase investments in production by another Rs 25 crore by 2003.

Source: Business Standard

Tags

Kranti Gada joined the family business at Shemaroo in 2006 after a successful stint of over two years in marketing at Pepsi Co. She has been associated with the company for 12 years.

Exchange4media interacted with Jaspreet Chandok, Vice President and Head (Fashion) , IMG Reliance Pvt. Ltd on seamless brands integrations planned for Lakme Fashion Week, walking tall despite blazing trails like GST, demonetization and being a part of the larger cultural space

Their strategy to educate the consumers to make well informed decisions at all stages has worked out well.

Bobby Pawar, MD, CCO - South Asia, Publicis India, talks about his idea of chilling out

WhatClicks promises to be an unbiased, objective, third-party audit firm that will work with advertisers and agencies alike to help build an effective and integrated digital strategy.

V-Guard Industries, a household name for consumer electrical appliances in India, has revamped its logo in order to reflect the strength gained by the brand over the years. The company has also unveil...

The report reveals that there has been nearly 5 times more growth in video consumption in the last 12 months, with 96 percent of all usage being focused on long form video