LG plans to invest Rs 80 cr in launching new products

NEW DELHI: LG plans to invest Rs 80 crore in launching new products across consumer electronics, consumer durable and home appliances category in the Indian market this year, said a top executive of the company.

The new product range is expected to contribute 11% to the company���s overall sales revenues in 2009. "The total marketing and advertising spend on new products will be around Rs 25 crore," said LG India managing director Moon B Shin.

Backed by new product launches, LG India is eyeing 30% marketshare in LCD televisions, frost free refrigerators, top loading washing machine, split air conditioners and convection microwave ovens this year. In GSM phones category, the brand is targeting 10% marketshare.