LG India is now betting big on the LEDs and other flat panel products, and hence, has decided to divert its resources from the LCD segment. The company has revealed its plans to stop the production of LCDs in the coming months.
According to a PTU report, Rishi Tandan, marketing head, LG Electronics India, said, “The company will focus on LEDs and ultra HD LED TVs. The production of LCDs will be stopped in India as the demand has declined sharply.”
Tandan was speaking on the sidelines of the launch of a new range of LED-based flat panel products designed for India. He said, “We have also lined up new audio products to revive this line of business with a target to double the sales this year. Television forms major business of home entertainment division and this division contributes about 38 per cent of the Rs 16,000 crore turnover in 2012.”
LG Electronics had nine LCD models in 2012 and the new products launched that year were all from the flat panel segment. The company now has plans to introduce 45 new models in flat panels. Out of these, 15 models are from India-specific products, said Tandan.
The launch of LED product range is a part of company’s India-specific strategy. LG India aims to sell LED products worth Rs 5,000 crore, which is around 70 per cent pver over last year’s LED sales, told the official. LG also has plans to introduce OLED TVs this year.
