LG aims at top slot in video, audio segments

Consumer electronics major LG Electronics is targeting the top slot in the digital audio video (DAV) segment in India with the launch of new systems.

The company, with the help of worldwide tie-up with US-based DiV-X, would launch DVD players with bundled movie content, Amitabh Tiwari, business group head (consumer electronics) of LG said here today.

The company would also launch DVD recorders and introduce car audio and MP3 players shortly, Tiwari said.

In 2005, the DAV segment of LG earned Rs 180 crore, which was expected to touch Rs 300 crore in the current calendar year, Tiwari said.

By 2007, the DAV segment is likely to fetch a revenue of Rs 450 crore. In terms of overall sales, the company is likely to post a turnover of Rs 9000 crore in the current year, up from Rs 7500 crore in 2005, Tiwari said.