LG Electronics posts record sales revenue of Rs 2,535 cr

LG Electronics, a Korean durables company, posted a record sales revenue of Rs 2,535 crores for September-October, an increase of 50 per cent compared to sales revenue for the same period a year-ago. This festive season, LG Electronics recorded a healthy 49 per cent growth in its home appliance business, a company release said.

The company recorded a 68 per cent value growth in refrigerators, 60 per cent in washing machines and over 41 per cent in microwave ovens. It also recorded strong sales in both conventional CRT TV and flat panel displays (PDPs, LCDs and flat screen TVs).

“We have introduced high end products that not only provide the right technology but also suit the new age lifestyles of Indian consumer, this also confirms consumers shifting preferences towards exercising affirmative choice to buy high quality reliable products rather than bargain hunting,” Moon B Shin, Managing Director LG Electronics India (LGEIL) said.

The LG festive campaign included - welcome to our home, exciting new product launches, free service camps and festival/product. “The results make us more confident of being able to build on the success and further augment our growth with more consumers oriented and feature rich products to achieve our target by this year-end,” Shin added.