Ahead of the approaching summer season, consumer durable company LG Electronics India today unveiled 23 new models in the direct cool refrigerator category.
With the launch of the new models in the direct cool category, LG is eyeing turnover of Rs 3,000 crore in the refrigerator segment by 2010. Also, the company, which has 200 brand shops across India, plans to quadruple the number in next six months.
Announcing the launch of new models in the direct cool category from Chandigarh, LG electronics India Chief Operating Officer Yasho V Verma revealed LG was eyeing 28 per cent growth in direct cool refrigerator in 2010, up from 26.4 per cent in 2009.
With the rolling out of new models in this category, LG is targeting growth of 50 per cent with projected turnover of Rs 1,800 crore in 2010, as against growth rate of 45 per cent in the direct cool segment in 2009.
Out of the four regions, North India contributes the maximum 34 per cent market share in refrigerator category for LG India.
LG India Business Head (Home Appliances) Rajiv Jain said the new direct cool series introduced in the capacity segment between 215L to 270L had been priced from Rs 11,500 to Rs 15,500.
More From This Section
The new direct cool refrigerator offers unique features such as ‘Freeze and Cook Box’, ‘Beauty and Care Box’, ‘Biggest Vegetable Box’, ‘Vita Plus’, ‘Egg cum Ice Tray’ and ‘Small Utility Basket’.
“The new series that come in 5 star rating comes works without stabiliser has been designed keeping in mind the consumer choice. We have manufactured products that fit the needs of Indian consumer and we look forward for an equally rewarding response from the consumer from the launch” added Rajiv.