New Delhi: Korean consumer electronics major LG will continue to introduce products in the home entertainment segment to maintain its leadership position in India, according to senior company officials.
LG Electronics India, which launched 55 AI-enabled television models on Wednesday, expects 25-30 per cent growth in its home entertainment (HE vertical) this year.
A company official said, India is the most important market globally.
“The demand for large screen TVs is growing in India and we are continuously expanding our portfolio with products like the world's largest 97-inch TV with life-like picture quality, advanced AI-powered processing technologies... This new lineup With this, we aim to further enhance our market leadership in flat panel TVs in India,” said Hong Joo Jeon, Managing Director, LG Electronics India.
The company plans to expand its India-specific product lineup."LG Electronics is thinking about the Indian market not just as one of the important markets, but as the most important market," said HE Brian Jung, Director, LG Electronics India.
He said that compared to the European and American TV market where most products have moved to OLED technology, the Indian market is a bit different, where LE technology is still dominant.
“Therefore, we are trying to market our product to Indian consumers as a ‘chosen’ product,” Jung said.
However, he said that the Indian market has grown rapidly in terms of screen size and technology.
He said, “The Indian market is growing very fast in terms of quantity and quality.,
LG has market leadership in the television sector in India with 27.1 per cent share, he said, adding that the brand is loved by consumers in the country "especially in the home entertainment category and we will retain that."
The Indian television market is estimated to be around Rs 28,000 crore annually.
When asked about the growth outlook, Abhiral Bhansali, Business Head, Home Entertainment, LG Electronics India, said, "Last year was also good for us. This year we are targeting a growth of about 25 to 30 percent compared to last year." Are."
In the HE segment, the company earned revenue of Rs 8,000 crore last year.The company's Pune plant has an annual production capacity of 30 lakh units of TV.
LG Electronics India, which launched 55 AI-enabled television models on Wednesday, expects 25-30 per cent growth in its home entertainment (HE vertical) this year.
A company official said, India is the most important market globally.
“The demand for large screen TVs is growing in India and we are continuously expanding our portfolio with products like the world's largest 97-inch TV with life-like picture quality, advanced AI-powered processing technologies... This new lineup With this, we aim to further enhance our market leadership in flat panel TVs in India,” said Hong Joo Jeon, Managing Director, LG Electronics India.
The company plans to expand its India-specific product lineup."LG Electronics is thinking about the Indian market not just as one of the important markets, but as the most important market," said HE Brian Jung, Director, LG Electronics India.
He said that compared to the European and American TV market where most products have moved to OLED technology, the Indian market is a bit different, where LE technology is still dominant.
“Therefore, we are trying to market our product to Indian consumers as a ‘chosen’ product,” Jung said.
However, he said that the Indian market has grown rapidly in terms of screen size and technology.
He said, “The Indian market is growing very fast in terms of quantity and quality.,
LG has market leadership in the television sector in India with 27.1 per cent share, he said, adding that the brand is loved by consumers in the country "especially in the home entertainment category and we will retain that."
The Indian television market is estimated to be around Rs 28,000 crore annually.
When asked about the growth outlook, Abhiral Bhansali, Business Head, Home Entertainment, LG Electronics India, said, "Last year was also good for us. This year we are targeting a growth of about 25 to 30 percent compared to last year." Are."
In the HE segment, the company earned revenue of Rs 8,000 crore last year.The company's Pune plant has an annual production capacity of 30 lakh units of TV.
