THIRD TIME LUCKY - LG ELECTRONICS
Article Abstract:
LG Electronics India Pvt Ltd, the wholly-owned subsidiary of $85 billion LG electronics of South Korea, posted turnover of Rs200 crore in its first year of operations during 1997-98 as against its projected turnover of Rs100 crore. This growth was mainly aided by the 7.5 percent market share cornered in colour televisions (CTVs) market, six percent in frost-free refrigerators, two percent in fully-automatic washing machines and around four percent in room air conditioners. In 1998-99, LG hopes to earn a turnover of Rs400 crore. Two months back, its new plant at Noida, manufacturing CTVs, washing machines and air-conditiners, started operations, and is expected to launch few more of LG products in the market. In the CTV segment, LG is on the verge of launching eight new feature- packed models in August, 1998 and the economy model, Sampoorna, launched in January 1998, will be extended to Sampoorna 2, with special Hindi on-screen display for hinterland market. LG will soon have 18 models in CTV segment. In the refrigerator and washing machine segment, direct-cool refrigerators and semi- automatic washing machines were launched in July 1998, in the lower-end segment. In another two months, four more models of refrigerators and washing machines are on the line. At present the LG range includes, CTVs, frost-free and direct-cool refrigerators, semi and fully-automatic washing machines, one model of microwave oven and room airconditioners. Currently, LG claims to stand number six in CTVs, Number four in frost-free refrigerators, number five in fully-automatic washing machines and number five in room airconditioners. The company plans to spend around Rs30 crore for advertising and promotional activities in 1998-99 compared to Rs20 crore spent in 1997-98. (gsh)
Comment:
Posts turnover of Rs200 crore in its first year of operations during 1997-98 as against its projected turnover of Rs100 crore
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
BEL MULTITONE TO LAUNCH E-MAIL PAGING DEVICE
Article Abstract:
BEL Multitone (BELM) is likely to launch a Windows-based e-mail paging device. Bharat Electronics Ltd (BEL) has developed the device which is not named as yet. The e-mail paging device works on Unix and Linux operating systems. BELM will market the device. The device which works on local area network (LAN) can be configured to wide area network (WAN) also. BELM is likely to launch the products in two months time in India. It plans to explore the export market also. BELM is a joint venture of Bharat Electronics Ltd (BEL) and Multitone Electronics of the UK. BELM is also launching a time division multiple access point-to-point (TDMA PMP) system developed by the Centre for Development of Telematics and manufactured by BEL. The system is a radio based voice, fax and data communication system and provides the capacity of a wireless exchange over WAN. (rk)(m)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: ELECTRIC WHITE BPL SANYO UTILITIES TO LAUNCH NEW MODELS MWIL TO LAUNCH TWO MODELS
- Abstracts: UNISYS PLANS TO ENHANCE INDIAN OPERATIONS COMPAQ INDIA TO LAUNCH DESKPAQ SERVICE. SOM PIPS ABHISHEK AT THE POST
- Abstracts: BESTAVISION ATTRACTS HITACHI, HAIER, DNF FOR TIE-UPS BARON INTL TO LAUNCH HITACHI TVS IN INDIA. COMPANIES ADD MUSCLE TO BEAT RECESSION
- Abstracts: HCL TECH TO LOG ON TO M&A MODE. FOUNDATION STONE FOR TOYOTA TECH PARK LAID
- Abstracts: IN THE FOREST OF THE NIGHT PIONEER FOREST INDIA SCHEME. VARINDHABAN FORESTS INVESTMENT SCHEME