LG India targets Rs 1,000 crore revenue from new B2B biz -Governance Now

LG India targets Rs 1,000 crore revenue from new B2B biz

Targets market share of 25 per cent by the end of 2014

PTI | June 8, 2011

The Indian subsidiary of Korean electronics major LG on Tuesday announced its entry into the business solutions segment, from which it aims to garner Rs 1,000 crore revenue by 2014.

"We are highly confident that LG Business Solutions finds right fitment in the Indian B2B market. We are targeting a turnover of Rs 1,000 crore and market share of 25 per cent by the end of 2014 in this segment," LG Electronics Managing Director Swoon Kwon told reporters here.

LG estimated that the total size of the business-to-business solutions for integrated display market is around Rs 2,500 crore and growing at the rate of 20-25 per cent per annum.

The company, under its new business segment, will offer digital devices and solutions for quick service restaurants, education, retails, hotel, office and banking businesses.

These solutions include digital menu boards for restaurants, digital signages for retail outlets and malls, room infotainment and digital signages for hotels, video conferencing solutions, commercial displays and surveillance cameras, among others.

LG will take both the direct selling and channel partner route to market these products.

"In the last two years, we prepared the whole product line for business verticals. Now we will sell 30 per cent of the total offering directly and approximately 70 per cent through channel partners," said LG Electronics India Senior General Manager - B2B marketing Dong Pil Kim.

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