LG India eyes Rs 450cr turnover from audio-video biz
Targeting a turnover of Rs 450 crore from the digital audio-video products business by the year-end, consumer electronics maker LG India on Tuesday ventured into MP3 player and car audio systems segment.
By PTI |
BANGALORE: Targeting a turnover of Rs 450 crore from the digital audio-video products business by the year-end, consumer electronics maker LG India on Tuesday ventured into MP3 player and car audio systems segment.
"We are already the top brand in video segment and are aiming to achieve the numero-uno status in digital audio segment by the end of 2007. LG is targeting a turnover of Rs 450 crore in the digital audio video segment by the year-end," company Managing Director M B Shin told reporters here.
The company is aiming at a 30 per cent market share in the Rs 1,800 crore domestic audio-video industry this year. It reported a sales of Rs 231 crore in the space in 2006.
The Indian unit of the South Korean giant launched "touche" range of high-end home theatres, lifestyle audio systems, MP3 players and high definition DVDs and Dual Format High Definition Disc players in India.
The newly launched MP3 and MP4 players have been priced in the range of Rs 3,000 to Rs 12,000 while the car audios are available for a cost starting from Rs 5,000 till Rs 60,000.
The Dual Format high definition disc player, "Super Multi Blue" would be the first in the market to play both generation disc formats, meeting the challenge of the current format war, Shin said.
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