LG enters water purifier market:
LG electronics india on Monday entered the water purification business and also launched the world’s first ‘wonder door’ refrigerator that saves energy. While the premium water solution range is priced between Rs.34,490 and 39,990 the company also plans to address the mass segment by this year.
Priced at Rs. 1.76 lakh, the ‘Wonder door’ refrigerator saves uptp 16 percent electricity as it is designed to reduce the number of time the main refrigerator door is opened. It has the smartest space-and shelf management and with 782 litres of space has the maximum storage within its range.
“Rising awareness of water-borne diseases, low penetration of water purifiers and increasing urbanization are some factors that will drive growth in this segment. We will soon launch water purifiers for the mass segment,” LG electronics president (south west asia) and LG india soon kwon said.
Stating that LG saw huge potential in the water-purifier market in india, Mr.Kwon said; “ we plan to strengthen the home appliances segment with manufacturing investment of Rs.138 crore and a Rs. 240 crore investment in marketing, along with a vast after-sales service network.” At product only in major cities, including Delhi, Mumbai, Chennai, Bangalore and Ahmedabad.
The Korean company, which sees its Indian operations overtaking its domestic sales within the next three to four years, also plans to global manufacturing hubs for worldwide operations.
While the Indian operations currently has a turnover of about $3.5 billion, (about Rs. 15,500 crore), LG generated sales of upto $7billion in korea.
In 2011, LG india is targeting a revenue of RS.20,000 crore.
No comments:
Post a Comment