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LG Electronics Aims for $1.5 Billion Turnover
Apr 1, 2005
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Consumer electronics and home appliances manufacturer LG Electronics India Limited is aiming to achieve a turnover of Rs 90 billion (approx. U.S. $1.5 billion) in 2005 against Rs 65 billion (approx. $2.1 billion) in 2004, with the company recording a 30 percent annual growth.

The company's South West Asia president K.R. Kim, said manufacturing units at Noida and Pune were expected to witness 40 to 75 percent growth in the information and communication technology products in the near future.

Mr. Kim said the company had netted 40 percent market share in the sale of monitors and 20 percent for personal computers, whereas it remained one of the market leaders in mobile phones with CDMA technology.

The company had subcontracted TV manufacturing facility to Goa-based Spiral Electronics Limited to assemble 1,000 sets to promote employment. It also plans to entrust the company the job of assembling DVD players, Mr. Kim explained.

He said LG Electronics plans to invest $60 million at its Ranjangaon facility near Pune by the year 2010 when it could achieve production of 20 million mobile handsets, half of which were meant for experts. (Sify)

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