Can India’s growing appetite for smart appliances power LG’s next growth phase? The company is targeting revenue to double across India, Brazil and Saudi Arabia by 2030.
LG Electronics has set a target of doubling its combined revenue from India, Brazil and Saudi Arabia by 2030, placing the three markets at the centre of its long-term growth strategy as it seeks to strengthen earnings resilience amid global economic uncertainty.
According to the company, combined revenue from the three countries reached KRW 6.2 trillion in 2025, representing growth of more than 20 per cent compared with 2023. LG said this performance exceeded its overall global growth rate by more than twofold.
According to a report by The Hindu Businessline, Lyu Jae-cheol, Global CEO of LG Electronics, described India, Saudi Arabia and Brazil as key pillars of the company’s future expansion plans.
He said LG is accelerating investments and market initiatives across these regions as part of its objective to create a more balanced regional business portfolio alongside its established operations in South Korea, North America and Europe.
Meanwhile, among the three markets, India is emerging as a particularly significant growth driver. A senior company executive noted that India is LG’s largest market globally for residential air conditioners.
The company sees continued opportunities in the country due to low appliance penetration, estimated at 20-30 per cent, leaving substantial room for first-time purchases as well as replacement demand.
LG has increasingly focused on products tailored to local requirements. Its India-specific Essential Series includes washing machines designed to operate under low water pressure and hard-water conditions, air conditioners engineered for temperatures up to 55°C, and refrigerators with larger storage areas suited to local food preferences.
The company is also expanding its manufacturing footprint in India. In addition to existing facilities in Greater Noida and Pune, LG is building a third plant in Sri City, Andhra Pradesh, which is expected to begin production by the end of 2026.
While revenue growth remains strong, profitability has faced challenges. LG Electronics India reported an 8 per cent year-on-year decline in net profit during the March 2026 quarter, citing currency fluctuations and higher commodity costs.
The company said localisation efforts, cost controls and operational efficiencies are expected to support margins over time.
