South Korea’s LG sees 45 percent jump in India turnover (Lead)
February 16th, 2010 - 8:01 pm ICT by IANSKolkata, Feb 16 (IANS) Backed by a robust revival of demand for consumer durables, the Indian arm of South Korean giant LG Electronics expects a 45 percent jump in turnover during 2010.
“With the economy looking up, we see a major rebound in demand for consumer goods in the current year for which we have already upped our capacity,” LG’s chief operating officer for India Yasho V. Verma said at the launch of a new range of air-conditioners here.
The turnover is expected to touch Rs.19,000 crore from Rs.13,090 crore posted in 2009.
LG, which has a major presence in consumer durables and mobile telecom industries in India, is eyeing a turnover of Rs.2,500 crore this year from the room air-conditioners, as against Rs.1,600 crore in 2009, said Ajay Bajaj, the business head for the division.
Apart from consumer electronics, LG’s South Korea headquarters is currently working on developing a range of electronics products targeted at business applications.
“Our research and development centre in Korea is currently working on equipment and appliances used in hospitals and educational institutions, which we plan to introduce in India at a later stage,” Verma said without elaborating further.
LG Electronics has a global turnover of $44.7 billion employing over 84,000 people in 115 operations. It has five business units - home entertainment, mobile telecom, home appliances, air-conditioning and business solutions.
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