LG to invest 300 Crore on marketing initiatives in India
Wednesday, 27 April 2011, 05:28 IST
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New Delhi: Korean consumer durables major LG Electronics today said it will invest Rs 300 crore in India on various marketing initiatives of its flat panel televisions this year. The company's Indian arm LG Electronics India Ltd today introduced a new television, CINEMA 3D and said it planned to sell one lakh units of 3D TVs during this year and garner 50 per cent market share in the segment. "We aim to be a market leader in 3D TV market with a share of 50 per cent. To ensure the numbers, LG Electronics India has an aggressive strategy targeting the youth and plans to invest Rs 300 crore in marketing with CINEMA 3D as flagship product communication," LG Electronics India Ltd Managing Director Soon Kwon said in a statement. At present, the Indian 3D television market is estimated to be around two lakh units a year. Major players in the segment include Sony , Samsung and Panasonic in India. Talking about the new product, the firm said it also has the features of a Smart TV, including accessing content through internet like Hungama, NDTV, Indiatimes, Carwale and Zapak. Besides, the company claims that the new television, which is priced between Rs 94,990 and Rs 1,64,990, can convert 2D content into 3D. "With this new CINEMA 3D Smart TV range we expect to bolster our flat panel display sales at a growth rate of more than 100," Kwon said.
Source: PTI
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