LG India to double LCD TV sets
07 Apr 2007
Mumbai: LG Electronics India Ltd. Says it will more than double its production of liquid crystal display (LCD) TV sets at its plant near Pune and shift to a more premium product segment.
LG India is a wholly owned subsidiary of South Korea's LG Electronics and has commenced production of LCD TV sets for which it established an initial annual capacity of 100,000, which would be hiked to 250,000 units in the near future.
In a a communiqué, the company has quoted Moon B. Shin, managing director of LG India, as saying "This investment ($0.5 million initially) is in synergy with our vision and focus of expanding into premium products."
The Pune plant also makes refrigerators, airconditioners, washing machines, microwave ovens, monitors, GSM phones and optical disk drives and also exports these products.
LG, which competes with Samsung Electronics, Videocon and other Indian and foreign brands, also has a plant near New Delhi. It expects its sales in India to grow by 15 per cent in 2007 from about $1.9 billion last year.
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