LG aims to strengthen its leadership in the TV segment with products tailored to India

Korean consumer electronics maker LG will continue to introduce products in the home entertainment segment that are tailor-made for India to maintain its leading position, senior company officials said.

LG is going heavy in the Indian market

LG Electronics India, which launched 55 AI-enabled television models on Wednesday, expects 25 to 30 percent growth in its home entertainment (HE) business this year.

India is the most important market globally, a company official said.

“There is a growing demand for large screen TVs in India and we are continuously expanding our portfolio with products like the world’s largest 97-inch TV with vibrant picture quality, advanced AI-powered processing technologies… With this new line-up we aim to We look to further strengthen our market leadership in flat panel TVs in India,” said Hong Ju Jeon, Managing Director, LG Electronics India.

The company plans to enhance its India-specific product ranges.

“LG Electronics thinks the Indian market is not one of the most important markets, but it is the most important market,” Brian Jung, managing director of LG Electronics India, told PTI.

Compared to the European and US TV markets, where most products have switched to OLED technology, the Indian market is a little different, with LED technology still dominant, he added.

LG has market leadership in India in the television segment with 27.1 percent, he said, adding that the brand is loved by consumers in the country

LG has market leadership in India in the television segment at 27.1 percent, he said, adding that the brand is loved by consumers in the country “especially in the home entertainment category and we will continue to uphold that.” The Indian television market is estimated at around Rs 28,000 crore per year. |

“So we are trying to deliver our product to the Indian consumer, which is a ‘choice’ product,” Jung said.

LG is the market leader in television

However, he said that the Indian market has witnessed a rapid evolution in terms of screen size and also in technology.

“The Indian market is growing very fast, both in terms of quantity and quality,” he added.

LG has market leadership in India in the television segment at 27.1 percent, he said, adding that the brand is loved by consumers in the country “especially in the home entertainment category and we will continue to uphold that.” The Indian television market is estimated at around Rs 28,000 crore per year.

When asked about the growth prospects, LG Electronics India Business Head, Home Entertainment Abhiral Bhansali said, “Last year was also good for us. This year we are targeting growth of around 25 to 30 percent over last year.” In the HE segment, the company posted a turnover of Rs 8,000 crore last year.

The company has a TV production capacity of 30 lakh units per annum at its plant in Pune.