LG Electronics registers 16 per cent growth in Gujarat

LG Electronics, a leading consumer electronic company in India, has registered a growth of 16 per cent in Gujarat.

Talking to Business Standard, Maulesh Chhaya, regional manager of LG, said, "We are growing at a rate of 16 per cent in Gujarat and expect to be a leader in the Gujarat market soon".

The company had registered a turnover of Rs 420 crore from Gujarat in last calendar year 2005 while it has already crossed Rs 500 crore for the current calendar year 2006.

On Tuesday, the company launched its new range of plasma display panels in Gujarat targeting the upcoming festive season.

Due to the fastest growing number of upper middle class income group in Gujarat, the company senses a huge potentiality in Gujarat. The company expects to sale 600 to 700 flat panel display (FPD) units in Gujarat during the three to four month of festive season targeting the high-end customers.

"We expect to have a sales of Rs 30 to Rs 40 crore from FPD segment during the festive season", adds Chhaya. Whereas the company expects to have a annual sales worth Rs 150 crore from the FPD segment. While amongst the FPD segment, the company has 40 per cent market share in plasma television in Gujarat, claimed Chhaya.

The company has also chalked out marketing strategy as it would provide consumer finance, gifts and launch major promotional campaign in Gujarat during the festive season.

The company will be expenditure on promotional campaign would be approximately Rs 50 lakh starting from the Navratri upto Diwali.

"We will launch our promotional campaign in all the major cities of Gujarat" said Prashant Das, national product group head, colour television and FPD (retail).

The promotional campaign for flat panel display will also begin in Surat, Vadodara and Rajkot targeting the high end customer.