LG Electronics launches new display products

MUMBAI: Consumer electronics company LG Electronics (LGE) has launched a new range of New Display Products (NDPs). Claiming to be a leader in the consumer electronics market, LG has strategically planned to create an exclusive category of hi-end consumer electronics products which include plasma display panels, projection televisions, LCD TVs, projectors, monitors and optical storage devices.

NDP refers to TV products with new display technologies such as PDP, LCD TV, projection TV and projectors. They feature large sized or slimmer screens in comparison with the existing products.

LGE is introducing two patented technologies of MDP product line up and XDR (Pro) technology for picture enhancement through these products. The product market for NDPs is booming due to the changing broadcasting technology, consumer aspirations and product competitiveness.

"With the whole world moving towards digital transmission in which lies the future of consumer electronic markets, LGE took this conscious step to create this segment in the Indian televisions market. We are committed to developing advanced display products and will focus on this category henceforth," said LGE DDM (digital display and media) president Nam K. Woo.

Nam Woo further added, "As a leading IT and consumer electronic manufacturer, we continuously build our strength to serve our customers. With the ever-increasing demand for Digital TV, LGE will be securing the top global position early with the introduction of the best digital display technology and other diverse new products into the market."

Targeting the fast-growing flat panel displays market, LGE's strategy will be on exploring the untapped potential for these products in India. The company is look at upgrading a consumer from being the owner of a conventional TV to a technologically superior electronic product.

A release says that LGE will strive to make these aspirational products available at the consumer's doorstep. Apart from the retail stores where these products will be available, the New Display Products will also be available in the X Canvas Studios, which are the exclusive outlets for LGE's high end products and on LGE's website, which is India's largest CE and HA site.

According to LGE head marketing Anil Arora, "LG Electronics will always be in the lead position to further enrich and enliven every customer's life. As a market leader, we take the onus to move the trends from analog to digital technology and we aim to serve a critical role in building a digital world leveraging on the first mover advantage."

The release says that globally, LGE is ranked third in the LCDs and PDP panels and is one of the few companies, which has its own PDP and LLD development as well as manufacturing facility. The manufacturing plant at Noida in India already has the capability of producing projection TVs and LCD's.

Leveraging its strengths of technical competency, production technology, sales network and a sound strategy, the release adds that LG Electronics has the vision to become the global leader in Plasma Display Panels and LCD TVs by the year 2007 and also targets at capturing the No. 2 position in projection televisions globally by the same year. Incidentally, LGE claims to be the leader in the category of NDPs in Australia and are also the leaders in Europe for PDP technology.

In India, LGE claims to have the numero uno position in colour televisions category with a market share of 18.2 per cent (Source: Jan~July 2003 Report of ORG GFK). In the category of flat TVs too, LGE claims to be the fastest growing brand, registering a growth of 283.7 per cent.

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