Lg 6-Mth Sales Up 16% At Rs 1120 Cr

L G Electronics India Ltd, a fully owned subsidiary of Korean chaebol L G, has posted a 16 per cent growth in sales at Rs 1,120 crore for the six months ended June 30, 2001.

As per a company statement, L G Electronics has recorded a 100 per cent growth in information technology, a one per cent growth in consumer electronics and a 16 per cent growth in household appliances over the first six month of 2000.

While sales of consumer electronics increased from Rs 386 crore to Rs 390 crore, household appliances posted an increase in turnover from Rs 509 crore to 588 crore. The information technology business of LG Electronics grew from Rs 71 crore to Rs 142 crore. Overall, the turnover of the company jumped from Rs 966 crore to Rs 1,120 crore.

"I am glad with our performance, particularly because we have been able to sustain performance during a general slowdown in the industry. We are bullish on our performance and hope to achieve our financial and business goals," said K R Kim, managing director, L G Electronics India, in the statement.

L G Electronics has planned an equal contribution from the consumer electronics and the home appliances segments for the year with an additional contribution from the infotech segment. The company has targeted a 40 per cent contribution from consumer electronics, 40 per cent from home appliances and 20 per cent from information technology. The company has grown nine per cent in consumer electronics and 19 per cent in home appliances.

The company recently expanded its product portfolio with the launch of 30 new products across all products including colour televisions, refrigerators, air-conditioners, washing machines, microwaves, vacuum cleaners, MP3 players, personal computer monitors as a part of its product strategy for 2001.

L G Electronics has also launched the new "Nutri Plus" refrigerator and other new models like "Direct Drive" and "Tong Dori" washing machines and a 20-litre "Solo Intellowave" microwave oven. It has also introduced the "Talking" microwave.