Consumer durables brand LG Electronics India is eyeing a turnover of Rs 2,500 crore this year from room air-conditioners (ACs), envisaging a 50 per cent growth compared to 2009.
"LG registered Rs 1,600 crore turnover in the room AC segment last year and the company is targeting a turnover of Rs 2,500 crore this year in this sector with growth of more than 50 per cent compared to 2009," said LG Electronics India AC Business Head Ajay Bajaj here today.
Speaking to reporters on the launch of a range of room ACs, Bajaj said LG is targeting a marketshare of 32 per cent with these new models.
"Currently our marketshare is 29 per cent, which we want to take to 32 per cent," he said.
To a question on LG's plans for rural markets, he said, "Rural sales are less than 10 per cent for ACs, but by 2012 we expect to elevate it to a competitive 20 per cent".
Bajaj said total marketing investment for LG for 2010 would be at Rs 25 crore.