Business IdeasLG India to spend Rs 500 cr on R&D and advertising this year
Electronics major LG India plans to invest Rs 500 crore on research and development activities as well as advertising home appliances this year.
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"LG is looking to double the amount of investments done in R&D to Rs 400 crore and spend Rs 100 crore on advertising and marketing of home appliances," Moon B Shin MD LG Electronics India said.
The company recently unveiled its new Health+ campaign under which it would introduce products aimed at helping consumers maintain healthier homes for the family household.
"We are very pleased to roll out the Health campaign in India. We believe healthy lifestyles start at home," he said.
"We at LG aim to be recognised as not just a leading consumer durable brand but also as a brand which provides complete healthcare solution to its consumers,” he said.
Currently, LG has manufacturing units at Greater Noida (near Delhi) and Ranjangaon in Pune, which would be expanded in the next three years.
The company may set up another unit by 2012 as a part of its investment in manufacturing.
LG"s focus this year will be on setting up a design centre and a research and development facility at its Greater Noida unit in India.
"Going forward LG is thinking of setting up an institute in India to study and review the future of India’s economy, which will help the brand in formulating their plans for the market here, the research will help LG know where India is heading," he added.