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| LG Electronics bags Prestigious VRF contract |
| Announcement / Corporate May 26, 2009, 19:25 IST |
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LG Electronics India, the leading manufacturer of Commercial Air Conditioners (CAC) in the country, has recently secured CPWD contract worth 17 crores of 4668 HP Variable Refrigerant Flow (VRF) AC System. This is the biggest project of VRF System in year 2009. LG won this prestigious order with “Multi V Plus II” System of which LG Electronics Inc., South Korea is a leading supplier worldwide. Owing to LG India’s commitment towards technical innovations & product superiority the brand has successfully accomplished the tender for the air conditioning of Sena Bhawan (Military HQ) at New Delhi.
It is to be noted that in October’08 LG Air Conditioner became the most preferable brand in India with Net Promoter Score (NPS) of 85 amongst all the top brands (source- Zenith Optimedia). LG has been developing products based on consumer insight through continuous research & development process by spending 7% of turnover on the R & D.
The Brands were first shortlisted on the basis of technical specifications of the product followed by a round of commercial bidding. LG Multi V Plus II, the product in the subject contract, is the 3rd Generation DC Inverter Scroll Compressor based Variable Refrigerant Flow (VRF) System. LG Electronics Inc., S Korea is a leading supplier of this system worldwide and is now making in-roads in this product segment in India market.
Celebrating the success Mr. Moon B Shin, MD, LGEIL said, “In sync with our new Brand Identity we at LG India aim to deliver the best to the Indian consumer. Our aim in the AC segment is to bring innovation in the living space of our consumer through constant up gradations and enhanced efficiency in the products. Being the leaders in the commercial AC segment we look forward to similar projects in future increasing our local presence. He further added “By developing India Insight products & our unique customer service campaign we have been able to drive preference for our brands. We at LG believe in offering an ever lasting grand experience to the user.
On this occasion Mr. Ajay Bajaj, Business Group Marketing Head, LGEIL said, “We at LG Electronics have always been identified as industry leaders owing to our consistency in quality and service. To cater to the evolving needs of our consumers we always try to incorporate the best technology and features in our Commercial ACs. This assignment is a proof of our consistent commitment towards the Indian consumer and we hope to deliver. With similar B2B projects we aim to achieve a market share of 20% by year end.”
NPS * - It which is a measure of the likelihood of consumers recommending a brand to others. NPS is derived by deducting the percentage of detractors from the percentage of promoters of a brand.
About LG Electronics, Inc.
LG Electronics India Pvt. Ltd., a wholly owned subsidiary of LG Electronics, South Korea was established in January 1997 in India. It is one of the most formidable brands in consumer electronics, home appliances, IT hardware and mobile communications space. In India for a decade, LG has earned a premium brand positioning and is the acknowledged trendsetter for the industry.
LGEIL has achieved a turnover of Rs 10,730 crore in 2008. LGEIL's manufacturing unit at Greater Noida is one of the most eco-friendly units among all LG manufacturing plants in the world. The second Greenfield facility, located at Ranjangaon, Pune, has the capacity to manufacture GSM Phones, Colour Televisions, Air Conditioners, LCD TVs, washing machine, refrigerators and Optical Disc Drives. This is India's first mobile phone manufacturing unit and also Asia's largest Optical Disc Drive manufacturing plant.
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