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India to beat U.S. to become No.1 in AC
Saturday, 29 January 2011, 06:19 IST
New Delhi: Korean consumer durables major LG said it will invest Rs 800 crore in 2011 to add capacity and for other purposes in India, which it expects will become its largest air-conditioner market in the world by next year ahead of the current leader U.S.
The company is also aiming to more than double its annual revenue to cross a figure of Rs 40,000 crore in India from all verticals in the next four years.
"India is a strategic market for LG. We will invest 
800 crore this year for expanding our manufacturing capacities and other general purposes. We will add new lines in almost all segments," LG Electronics India Ltd (LGEIL) Chief Operating Officer Yasho V Verma told reporters here.
Flat panels, mobile handsets and rooms ACs will be the major growth drivers for the company, he added.
Source: PTI
800 crore this year for expanding our manufacturing capacities and other general purposes. We will add new lines in almost all segments," LG Electronics India Ltd (LGEIL) Chief Operating Officer Yasho V Verma told reporters here.
Flat panels, mobile handsets and rooms ACs will be the major growth drivers for the company, he added.
Source: PTI