Consumer electronics maker LG is aiming to corner around 27 per cent of the Indian television market this year, helped by the introduction of new-generation technologies, such as artificial intelligence (AI), to the affordable segment.
Besides, the company would retain its market share in 55-inch and above screen size where LG has around 30 per cent market share and in OLED, where it dominates with over 70 per cent market share.
LG Electronics India, which manufactures its entire TV line-up here, would continue to invest in its Indian operations for expansion and to cater the growing demand in both -- affordable and premium segments.
"We are expecting more than 27 per cent share (volume-wise) on the total Indian market demand helped by this new (AI-assisted models)," LG Electronics India Director (Home Entertainment) Younchul Park told PTI.
He further said that last year, LG had 25 per cent market share of the total Indian TV market.
The Indian TV market is expected to be around 14 million units and majority of the market is controlled by three leading brands -- Samsung, LG and Sony.
The big TV brands are now facing intense competition in the affordable and entry-level segment. However, sale of large-screen panels are increasing and companies such as LG are investing in that.
"The competition is tough after every year but the important thing is that the segment of large screen is growing rapidly. That's why LG is investing in those large premium sets," said Park.
However, he also added, "We are also putting value to the smaller 32-inch screen size by introducing AI technology, which are in the premium OLED range."
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