LG bid to tap rural markets in a big way

In a bid to tap the country's vast rural markets in a big way, LG Electronics has decided to make substantial investment in the sector by identifying 16 states.

The company's chief operating officer, Y V Verma, said here today that the 16 states include UP, Punjab, Andhra Pradesh and Maharashtra.

Without specifying the amount earmarked, Verma said, "We find the rural markets in 16 states quite encouraging...We give equal importance to the rural markets in the eastern region, West Bengal in particular, where we have already planned our marketing strategy."

Verma said that LG electronics registered 32 to 35 per cent growth in revenue generation this year, but refused to divulge details.

Pointing out that the company's overall market share in India, was poised to grow from the present 13 per cent by next year, he said expansion plans were afoot for LG's manufacturing facility in Pune.

LG electronics' manufacturing unit at Greater Noida is one of the most eco-friendly units among its facilities worldwide, he said.