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LG Electronics, president South West Asia and LGEIL MD K R Kim
said, "With the launch of these hi-end display products, LGEIL
has now become the only consumer electronics company to offer a
complete portfolio of display solutions, from the smallest 15"
Inch portable television to the largest display available in the
Indian market, spread across price point of Rs 39,000 to Rs 3 million."
LG plans to capture 50 per cent or 10,000 numbers by the end of
2005 and sell at least 20,000 in 2006 to retain this percentage
of the Indian market that LG expects to double to 40,000 during
this period. The growth drivers according to LGEIL product group
head-NDPs, Prasanna Raghavan would be entry of the competition,
demand increase because of improved technology of the offered products
and lowered prices, which would be inevitable globally after Christmas
during the first quarter of 2006 when stocks would have to refurbished.
Creative for the flat screen is handled by Lintas, while Group
M handles the media business. Initially promotional spends will
be Rs.40 million for the new offerings and depending upon the outcome,
additional spends would be considered after the end of the campaign
in October revealed Raghavan.
The campaign includes print and outdoor media along with TVCs which
are being planned. O&M and McCann handle the creatives for the
other products in the LG stable.
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