LG Electronics targets Rs 20,000 cr turnover in 2011

Leading consumer electronics company LG Electronics India (LGEIL) is targeting an all-India sales turnover of Rs 20,000 crore this calendar year, a top official said today.

LGEIL clocked a turnover of Rs 16,000 crore last year, Chief Operating Officer Y V Verma told reporters here.

Launching a mega consumer offer, 'Sammana Perumazaha', for the upcoming Onam festival, he said customers can win an assured gift on every purchase of LG products.

Pointing out that Kerala has been a priority state for the company, he said LG was eyeing sales of Rs 850 crore from the southern state during the year and about Rs 350 crore during Onam.

In the home entertainment segment in Kerala, LG has a market share of 37.1% in CTVs, 38.6% in LCD televisions, 40% in frost-free refrigerators and 39% in the microwave oven and air conditioners category.

The marketing spend earmarked by the company for Onam promotions was Rs 10 crore.

Customers can win assured gifts like LED televisions, microwave ovens, DVD players, gold coins and cash back offers by scratching a card. The offer starts from July 15 and lasts till September 15.

LG's Regional Manager for Tamil Nadu and Kerala, P Sudheer, said there has been tremendous growth in the market over the last few years both in terms of sales and the quality of products sold.

In the Tamil Nadu and Kerala region, the company is targeting a sales turnover of Rs 2,400 crore this year. Last year, the turnover was Rs 1,650 crore.

The company has launched new refrigerator models and LED TVs -- including a 3D set with Film Patterned Retarded Technology -- priced between Rs 50,000 and Rs 90,000 for the festival season.