| Addressing the media at the launch of its new offer "� Mangal Hi Mangal, P V Murahari Rao, regional manager, Andhra Pradesh and Karnataka, LGEIL, said, "We have already achieved Rs 550 crore value turnover against the Rs 800-crore target set for this financial year in Andhra Pradesh." |
| LGEIL achieved an annual value turnover of Rs 500 crore in the last fiscal, including a value turnover of Rs 49 crore last festive season in Andhra Pradesh. |
| "One of the ideas behind the offer is to maximise the brand pull or call enquiry," said Amit Sharma, branch manager, LGEIL, explaining the concept behind the new offer. 'Mangal Hi Mangal Offer'starts from October 1 and ends on November 10. |
| The company, with a marketing spend of about Rs 60 crore for the new countrywide festive promotion, has targeted a value turnover of Rs 1,600 crore. |
| LGEIL is expecting to achieve a 35 per cent approximate value growth in the electronics category, a 45 per cent value growth in appliances and an 80 per cent growth in the IT category by the end of this festive season. |
| Explaining LG's strategy for this season, Rao said, "Our focus now is on flat TVs and we are introducing a few concepts in the television segment, MyHomenet "� an integrated home entertainment system, and NKS "� Next Gen Karaoke System." |
| Of the total sales in the consumer durables category, 50 per cent of the business is achieved in two seasons "� the summer and the festival season. The festive season accounts for 30 per cent, Rao said. |
| "We have gained leadership in the consumer durables in Andhra Pradesh with a major market share in a wide range of segments including colour television, refrigerators, audio & DVD systems, washing machines and microwave ovens except the vacuum cleaner segment. We have also been consistently performing well over the past four years," he added. |
| Speaking about the expansion plans, Rao said, "The company is planning to open a factory in the south. The existing plants at Noida and Pune cater to the North-West and South-West regions. We plan to step up our presence in the GSM market of which our current share is 6 to 7 per cent." |
| LGEIL plans to produce 20 million mobile handsets by 2010 at its Pune facility, said to be India's first mobile manufacturing unit. |
| LGEIL recorded a value turnover of Rs 6,500 crore in 2004 and aims to be a $10-billion company by 2010, with an investment of $250 million allocated over the next five years to the Indian market. |
| The new offer is valid across all the states in India except Kerala. It has already commenced in the eastern markets with the Durga Pooja celebrations. |
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