LG eyes 30% rise in home entertainment products sale this yr

Business Standard (18 October 2016)

South Korean electronics major LG is looking at a 30 per cent increase in sales at Rs 7,150 crore from its home entertainment division in India this year on the back of good festive season demand.

“We are expecting 30 per cent increase in turnover in our home entertainment division in 2016. Festive season sales are good on better sentiments and economic stability,” Hyun Woo (Howard) Lee, Director – Home Entertainment, LG Electronics told PTI.

The company’s home entertainment division reported a turnover of Rs 5,500 crore in 2015.

When asked if the company is looking at any price increase due to increase in input costs, Lee said: “Usually in festive season price point (of products) is lower. However, price of TV’s major component module or panel has gone up by 10-15 per cent (and) it is still going up… Regarding any increase as of now I cannot say. We are struggling to reduce other costs.”

The company today flagged off its CSR campaign along with Smile Foundation on mosquito menace in Delhi NCR. The campaign — Save your family, save the community — will focus on awareness, prevention and cure.

“We at LG develop products based on customer insights. We have two products as well — TV and ACs — with mosquito away technology,” he said.

When asked if the company is looking at introducing this technology with other products, Lee said: “We are working on few things but I cannot disclose at this time.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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