LG aims for the top slot in LED TV segment

Korean consumer goods major, LG Electronics India, is aiming to be a market leader in the LED space. LG Electronics India, which has launched a new range of flat panel televisions, is primarily eyeing the replacement cum upgradation market in the non-metro cities in order to stay ahead in the race.

Rishi Tandan, marketing head, home entertainment at LG Electronics India, said, LG ranked second in the LED TV market.

Samsung India is at the numero uno position and Sony was at the number three spot , said Tandan.

The flat panel market television market was 5.5 million units, which is expected to be 7.5 million units this year.

LED TVs now account for around 80 per cent of the total flat panel television market.

"We are aiming to have a 30 per cent share in the LED TV market by the end of this year. We are targeting the upgradation market as a lot of people with CRT TVs are now upgrading to LEDs," said Tandan.

According to him, the company is already in the process of making an exit from the LCD market and this pie would see more contraction by the end of this year.

"The price gap between LCD and LED has narrowed down sharply and that has caused the demise of interest in LCD TVs. Two years back, the price gap between a LED and LCD TV was around Rs 10,000 but that has come down to around Rs 3000 now," he added.

Another reason behind rise of LED televisions is the fact that they are sleeker, provide better picture quality and consume less power than LCD televisions.

LED TVs contributed around 37 per cent to the home entertainment vertical of LG India, in terms of quantity

The company is also making substantial investments for the marketing activities and has allocated Rs 100 crore for the same.