Top Story

e4m_logo.png

Home >> Marketing >> Article

LG revises AC sales target to 1.8 lakh units

02-May-2002
Font Size   16
Share
LG revises AC sales target to 1.8 lakh units

A boom in air-conditioners sales has prompted LG Electronics to revise its sales target upwards for the current year to 1.8 lakh units from 1.5 lakh units. The company plans to set up a new multi-product manufacturing facility in the southern India. The company is likely to choose between Karnataka and Andhra Pradesh to set up the plant .

LG sold one lakh air-conditioners in the whole of last year. The company expects that air-conditioner sales is likely to contribute around Rs 525 crore, up from Rs 315 crore last year.

LG reported a 98 per cent growth in air-conditioners selling 45,000 units in the first quarter of the current year. Several smaller cities such as Coimbatore, Thiruvanthapuram have triggered the sales spurt. According to company sources 63 per cent of the air-conditioner market lies in 70 cities and there is tremendous opportunities to develop the market.

Last year, the company slashed prices by almost Rs 1,500 per unit to trigger volume pick-up in the sluggish market conditions. However, the company is "comfortable" with operating margins under the `softened price regime'''' and is not likely to effect a price hike even as volume soars.

Source: Business Line

Tags

Innovation and connecting with customers in all ways possible is their mantra for successful marketing communication

Bixler revealed that the likes of The Ministry of Tourism, The Art of Living and The Indian Debating Union have partnered with the festival that will be showcasing the culture and diversity of India

In conversation with exchange4media, Vighnesh Shahane, CEO, IDBI Federal Life Insurance, spoke about his vision for this new marketing initiative, how the brand’s marketing efforts through sports have helped them and his business goals for 2018

This agency was born after national brands reportedly struggled to connect with the south Indian audiences

The agency has been awarded the reins of the account in the aftermath of a competitive multi-agency pitch.

In an effort to make Indian roads safer for women scooter riders, leading tyre manufacturer CEAT has introduced the CEAT Safety Grip - a perfect combination of innovation and functionality

Partners with Mumbai Juniorthon as ‘Safety Travel Partner’