Korean consumer durables maker LG Electronics plans to double its businesses in India by 2015, the managing director of the company's Indian arm said at a press conference in Mumbai.
Soon Kwon said LG Electronics is looking at a 33 per cent market share in home appliances products, and Rs6,100-crore revenue from its Indian operations by December.
In 2010, the company's total business from India was Rs16,000 crore, about 6 per cent of its global business. ''This year, we have set a target of Rs20,000 crore; and to increase India's contribution by 12 per cent by 2015,'' he said.
The focus will be on home appliances, since the company's penetration in this field is only 6 per cent.
"With our new smart range of home appliances we expect to grow our home appliances sales at a rate of around 35 per cent. We aim to hold our market leadership position, with a targeted market share of 33 per cent in 2011," Soon Kwon said.
Another focus area would be information technology products, he said.