LG, the South Korean consumer electronics giant, is committed to introducing products specifically designed for the Indian market in the home entertainment segment to sustain its leading position, as stated by senior officials. LG Electronics India unveiled 55 AI-enabled television models, aiming for a growth of 25-30% this year in the home entertainment vertical.
Highlighting India's significance as a market, a company official emphasized, "There is a growing demand for large-screen TVs in India, and we are continually enriching our product range. With innovations like the world's largest 97-inch TV boasting vibrant picture quality and advanced AI-powered processing technologies, we strive to reinforce our dominance in flat panel TVs in India," said Hong Ju Jeon, Managing Director of LG Electronics India.
LG intends to further customize its product line for the Indian market. Brian, Director of Home Entertainment at LG Electronics India, stressed, "India is not just one of our important markets; it is the most important market."
Contrasting the European and American TV markets, where OLED technology prevails, LG highlighted India's preference for LED technology. "We aim to deliver products that are tailored to Indian consumers," Jung explained.
While acknowledging India's swift evolution in screen size and technology, Jung noted, "The Indian market is growing rapidly in both quantity and quality."
With a market share of 27.1%, LG claims leadership in India's television segment. Abhiral Bhansali, Business Head of Home Entertainment at LG Electronics India, expressed optimism about achieving 25-30% growth this year, building on last year's revenue of Rs 8,000 crore in the home entertainment segment.
LG operates a TV production facility in Pune with an annual capacity of 3 million units, supporting its commitment to the Indian market.
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