LG targets 17% marketshare in biz solutions

LG Electronics on Wednesday said the company plans to increase its marketshare in business solutions segment in India. With the introduction of new business solutions, it expects to take the market share to 17 per cent. “We have a strong business network and are also planning to have regional distributors and system integrators to strengthen our market presence,” said Hemendu Sinha, Business Head, B2B sales LG.

With the introduction of new technology products like video wall, Procentric TV and 3D FHD cinema projects, the company is targeting a total turnover of Rs 800 crore in the business solutions category by the end of 2011. The company also hopes to capture 25 per cent of the market in business solutions category by 2015.

Sinha added. LG, which invests around 4 per cent of its revenues on R&D believes that government and education will be the key verticals for the growth.

Further, he said, the company was in indirect talks with some of the state governments in the country for its security products and education sector. When asked about some of the security installation by the company, he said, currently, about 30 temples in the country had installed the LG surveillance system. The company is also in talks with the Airport Authority of India for its security and surveillance products.