| The company has set a target of selling 50-60 units of each product per month. |
| "LG will be closely looking at the consumer reaction and expects more than 100 per cent growth over the next year," said Rajiv Jain, product group head, washing machines, LGEIL. |
| Jain claimed LGEIL had 37 per cent market share in the washing machine segment. |
| Dish washers and dryers should become market leaders by 2006, Jain added. |
| LGEIL expected 40 per cent market share by 2005 and 43 per cent by 2006 for its washing machines based on compound annual growth rate (CGAR) of 13 per cent. |
| Washing machine at present contributed 8 per cent of group sales. |
| "More than 51 per cent of sales come from northern part of the country with east contributing just 9 per cent and LG expects the same trend for new products," added Jain. |
| The company would invest Rs 55 crore in 2006 on its washing machine segment of which Rs 30 crore would be invested in production and manufacturing and the balance in product development, Salil Kapoor, head of marketing of LGEIL said. |
| Presently, though LGEIL will not be manufacturing any of these newly launched products. |
| "It is too early to begin production as a couple of years is needed to get a clear idea of consumer demand and taste for an appropriate manufacturing model," added Kapoor. |
| Till now the company has invested Rs 140 crore in washing machine segment with Rs 95 crore in manufacturing and Rs 45 crore in research and development. |
| Kapoor said the company had commenced production of GSM mobile phones at its Pune unit three months back but did not give capacity details. |
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