LG Electronics India Pushing Sales Of 3D TV In The Country
LG is one of the leading 3D TV makers in the market and they are aiming even higher. LGEIL or LG Electronics India Ltd have announced their target sales in value to be no less than Rs 1,000 crores for this year for which they intend selling 2.5 lakh 3D TV units.
For this, the are also launching a new range of 3D TV sets and have earmarked Rs 100 core towards marketing the product. However, its not only 3D TVs that the South Korean company is focusing on as they are also keen to push sales of their flat panel TV sets. LG has set the target of increasing their market share from the present 25 percent to 30 percent this year.
Managing Director Soon Kwon of LGEIL while speaking reporters said, “We are targeting business worth Rs 1,000 crore from 3D TVs and aim to consolidate our position in the flat panel TV segment with 30 per cent market share.”
He further added, “To ensure the numbers, we have an aggressive marketing strategy with a target investment of Rs 100 crore in flagship product communication,” Which meant that he included their entire range of LCD, LED, HD and 3D Smart TV sets in his talk.
Flat panel TV sets in India has a market of 38 lakh units in 2011, which is expected to reach 55 lakhs this year, as per market reports of LGEIL.
Even in the 3D TV market LG has set itself a target of taking over 50 percent of the total market share which stands at 40 percent as on date. For this they have launched ‘Cinema 3D Smart TV’ series of sets.
In 2011 the total market presence of 3D TV sets was 1 lakh, which market analysts at LGEIL expect to touch 5 lakh units.
Head of Marketing at LGEIL Home entertainment Division Rishi Tandon said, “We are looking at 2.5 lakh units in 3D TV segment in 2012.”
They also have plans to come up with 10 more models of flat panel TV sets. With that, LGEIL would have 45 types of flat panel TV sets in the market by 2012, as per Tandon.
So far as revenue share goes, Tandon mentioned that the 3D sets made up for 10 percent of the total market of flat panel TV sets. This the company sources mentioned would go up to 30 percent by the end of this year.
3D TV sets that the company is coming out with this year would be priced between Rs. 55,000 to Rs. 7 lakh.