LG Electronics India plans to pump in Rs.400 crore in the home appliance segment during the current calendar year.
The company is also targeting revenues of Rs 5,000 crore from the refrigerator category during the year. The home appliance segment contributes around 50 percent to LG's total revenue.
LG India Director-Home Appliances Y.V. Verma said, "This investment is to strengthen our portfolio in refrigerators, washing machine and microwave oven over the year."
Gearing up for the summer, the company has launched a new line-up of 33 new models in refrigerators.
"With this new series, we will strengthen our market leadership position in the refrigerator segment with a share of 35 percent. We are expecting a growth percentage of more than 25 percent this year and targeting a turnover of over Rs.5,000 crore in the segment," Verma said.
The price range of refrigerators from the LG stable is between Rs.13,250 and Rs.1,86,500. The health-guard feature (with a four-layer filter) is available in the frost-free and Wonder Door series, in a price band of Rs.47,100 to Rs.1,86,500.
The high-end new range of LG Wonder Door Side-by-Side refrigerators is available in the range of Rs.1,25,000 to Rs .,86,500. The direct cool refrigerators are available for 215 litres and above and priced at Rs.13,250 onwards.
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