LG eyes 33% marketshare of the country’s home appliances market

NEW DELHI: Korean consumer durable maker LG is eyeing 33% marketshare of the country’s home appliances market this year. The company plans to invest close to Rs 350 crore in production and marketing of its home appliances range to attain the targeted marketshare.

“India is a very strategic market for LG Electronics and our objective is to introduce flagship products into the market which reiterate the company’s efforts to constantly create and introduce new technological innovations,” Soon Kwon, MD, LG India said.
The company’s home appliances range is expected to grow at 35% this year.

It launched a new range of microwave oven and washing machine on Thursday. The new fully automatic washing machines range is priced between Rs 24,290- 70,990, while the microwave ovens are available between Rs 18,490-21,290.

“At LG, we maintain a relentless focus on finding out what customers want and then reflecting those desires and needs into products that enrich their lives,” Kwon said.