LG set to enter business solutions market
08 Jun 2011
Consumer durables maker LG Electronics India on Tuesday announced that it was entering the business solutions segment, providing highly integrated technology solutions for various business verticals.
The company is targeting revenues worth over Rs1,000 crore by 2014 from various business-to-business (B2B) deals in the government and private sectors.
The business solution offering of LG includes digital menu boards for restaurants, digital signs for retail outlets and malls, room infotainment and digital signs for hotels, video conferencing solutions, commercial displays and surveillance cameras, among others.
LG president (South West Asia region) and LG Electronics India managing director Soon Kwon told journalists in New Delhi that the total size of B2B solutions for integrated display market was around Rs2,500 crore and growing at 20-25 per cent annually.
''The union and state governments, besides big state-owned enterprises and corporations, will form an important client base for us as the government sector is increasingly using digital and business solutions while dealing with people,'' he added.
LG will take both the direct selling and channel partner route to market these products.