New Delhi, May 7: South Korean white goods giant LG Electronics has begun export from its Indian manufacturing base even as the company emerged as market leader in frost-free refrigerator segment and second in airconditioner market during the first four months of the year. The company has begun shipment of airconditioners, washing machines, refrigerators and microwave ovens to Maldives recently, while shipment to Middle East and some other countries in the south Asian region would begin soon, vice president of the company, Rajiv Karwal, said here.The company grew by 192 per cent in terms of turnover during the first four months of the year, he said, adding, the best performance indicator was that the company's growth in collection terms was 211 per cent over the same period in 1998.
The company recorded Rs 298 crore business during the first four months of the year compared to Rs 102 crore the same period last year, he said, claiming the company stood third after BPL and Videocon in terms of overallrevenue.
The company has grown by 205 per cent in terms of overall sales with 97 per cent growth in colour television segment, 45 per cent in frost-free refrigerators, 62 per cent in fully automatic washing machine and 746 per cent in microwave oven.
Growth in the airconditioning market was to the tune of 2030 per cent with the company selling over 15,000 units in the first four months of the year thereby positioning itself second to Carrier Aircon, he added. Kalwar claimed that the company's market share had gone up from 6.5 per cent in television segment last year to 8.5 per cent during the first four months of the year. LG brands are number five after BPL, Videocon, Onida and Samsung in the category, he claimed. Kalwar attributed reason for the rapid growth of the company in the Indian market for introduction of a range of products in each category within a short period.
Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.
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