Business IdeasLG to invest Rs 25 cr in home appliances category
Consumer durables major LG Electronics today said it will invest Rs 25 crore in promotional activities of its home appliances during the festive season, as it targets a 30 per cent share in the segment by next year.
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The company also announced its entry into the air purifier category, besides launching a slew of other products, including new models of refrigerators, microwaves, vaccum cleaners and washing machines for the festival season.
"The key focus of the brand is to address the evolving consumer needs and take the Rs 12,500-crore Indian home appliances industry to a level of outstanding functionality, high performance and revolutionary designs," LG Electronics Managing Director Moon B Shin said in a statement.
Shin said the company will invest Rs 25 crore on the marketing and promotional activities of its home appliances segment during the festive season.
The company, which currently has a 27 per cent share in the home appliances market, said it plans to increase it to 30 per cent by next year.
Commenting on the launch of air purifiers, Shin said, "Addressing the consumer needs amidst global environmental change and mounting health associated diseases we have introduced the air purifier category in India and comes with a powerful sterilisation system."
Besides, the company launched four models of refrigerator and microwaves among others.