Ace cricketer Yuvraj Singh has been chosen as the brand ambassador for the premium products of LG Electronics India Pvt. Ltd (LGEIL). The products include GSM handsets, K R Kim, Managing Director, LGEIL, informed mediapersons today during the company’s seventh anniversary celebrations.
Further elaborating the expansion plans of the firm, he said the company plans to invest over Rs 700 crore in expansion plans in the coming three years. An investment of Rs 175 crore would be made in the Pune plant.
Giving an insight into the India, operations Kim revealed that exports of goods like TV, refrigerators, washing machines would take place to Hong Kong, South Africa, New Zealand and Mexico in the coming months.
Besides this, PC sales to south Asian countries would also take place. The number of units to Sri Lanka would also see an exponential increase.
With the launch of GSM premium handsets in the market, the company was targeting a market of over 30 per cent in this segment in the coming years. New products like dishwashers, dryers, etc. will also be added to the Indian market soon, Kim added.
Speaking about the growth of the various products in the first quarter of this year he said consumer electronics has recorded a growth of 38 per cent, home appliances grew by 51 per cent and IT business recorded an upswing of 69 per cent. Maintaining the present growth rate, the firm is hopeful of achieving a turnover of around Rs 15,000 crore by 2007.