LG Electronics launches latest series of Cinema 3D Smart TVs with marketing spend of Rs 100 crore

NEW DELHI: LG Electronics is aiming at a 50% market share in the 3D TV market this year, as against 40% last year with the launch of its latest series of Cinema 3D Smart TVs priced in the range of Rs 55,000 to Rs 7,00,000, boasting of world's slimmest bezel TVs.

Soon Kwon, MD, LGEIL says, "We are targeting business worth Rs 1000 crore from 3D TVs and aim to consolidate our position in the Flat Panel TV segment with 30% market share. We have an aggressive marketing strategy with target investment of Rs 100 crore."

The new range is also accompanied by new Cinema 3D glasses for 2012. Adds Kwon, "3D entertainment is set to explode in India at a steady growth of 500%. We are anticipating the size to go up to 5 lakh units this year, as against 1 lakh units last year."

Going forward, the company will roll out experiential marketing campaigns to promote the range.