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LG Electronics eyes 15 pc market share

Our Bureau

HYDERABAD, Aug. 9

LG Electronics India Ltd is targetting a 15 per cent marketshare in the colour television (CTV) segment in the country this year against 11.6 per cent achieved last year.

The company's target is to post a turnover of Rs 2,500 crore during 2001 against Rs 1,903 crore in the previous year. In the first half of this year, LG's sales turnover stood at Rs 1,120 crore, registering a growth of 16 per cent over the corresponding period in the previous year.

The company, which sold 4.75 lakh CTVs last year, is expecting to sell over 7 lakh CTVs in the current year. In Andhra Pradesh, the company proposes to increase the sale of its CTVs from the current level of 6,500 to 10,000 per month. It is estimated tha t India has a market for 50 lakh CTVs per annum, LG's Assistant General Manager-Sales and Marketing, Mr. Chandramani Singh, said.

Mr Singh told newspersons here on Thursday that due to increased indigenisation of components, there has been a 10 to 14 per cent decline in the prices of various models of LG CTVs today.

``We are rationalising the price structure of all our CTV models following the glocalisation drive,'' he added.