LG eyes 30 per cent rise in home entertainment products sale this year

By: |
New Delhi | October 18, 2016 8:26 PM

South Korean electronics major LG is looking at a 30 per cent increase in sales at Rs 7,150 crore from its home entertainment division in India this year on the back of good festive season demand.

The company's home entertainment division reported a turnover of Rs 5,500 crore in 2015. (Reuters)The company’s home entertainment division reported a turnover of Rs 5,500 crore in 2015. (Reuters)

South Korean electronics major LG is looking at a 30 per cent increase in sales at Rs 7,150 crore from its home entertainment division in India this year on the back of good festive season demand.

“We are expecting 30 per cent increase in turnover in our home entertainment division in 2016. Festive season sales are good on better sentiments and economic stability,” Hyun Woo (Howard) Lee, Director – Home Entertainment, LG Electronics told PTI.

The company’s home entertainment division reported a turnover of Rs 5,500 crore in 2015.

When asked if the company is looking at any price increase due to increase in input costs, Lee said: “Usually in festive season price point (of products) is lower. However, price of TV’s major component module or panel has gone up by 10-15 per cent (and) it is still going up… Regarding any increase as of now I cannot say. We are struggling to reduce other costs.”

The company today flagged off its CSR campaign along with Smile Foundation on mosquito menace in Delhi NCR. The campaign — Save your family, save the community — will focus on awareness, prevention and cure.

“We at LG develop products based on customer insights. We have two products as well — TV and ACs — with mosquito away technology,” he said.

When asked if the company is looking at introducing this technology with other products, Lee said: “We are working on few things but I cannot disclose at this time.”

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Covid Disruption: PC shipments under cloud as economic activity down
2CAIT urges Commerce Minister Piyush Goyal to direct CCI to initiate probe against Amazon, Flipkart
3Microsoft to launch Xbox TV app and standalone xCloud streaming stick