LG forays into biz solutions; aims 25% mkt share by 2014
Korean electronics company LG forayed into business solutions for hospitality, banking, retail and education with the launch of 40 integrated technology solutions and eyes 25% market share by 2014.
June 16, 2011 / 18:37 IST
Korean electronics company LG forayed into business solutions for hospitality, banking, retail and education with the launch of 40 integrated technology solutions and eyes 25% market share by 2014.
"We are confident that LG Business solutions will find right fitment in the Indian B2B market.Our technology strength backed with market insight and research and development will enable us to offer vertical specific products, creating an effective business environment in India," Soon Kwon, President South West Asia Region and Managing Director LG Electronics India told reporters here.The company is targeting Rs 800 crore turnover and 17% market share of the total B2B solution market in India that is about Rs 2,500 crore by 2011, he said."B2B solutions have immense potential in the emerging nations, especially in India. Looking at this potential we have set a target of capturing 25% market share by 2014," he said.The company today launched 40 solutions, including 12 commercial display, two video conferencing solution, eight hospitality pro-centric, five projectors, 12 security cameras and one 47 inch LED Video wall aimed at sectors like education, retail, banking and hospitality.Initially, he said, all the products under B2B solutions will be imported from Korea."However, we plan to manufacture few products under digital signage like LG EzSign TV that has numerous free templates, which can be customised to fit the needs of different industries, from our Pune unit from next month," he said. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
