 "Soon Kwon")
LG Electronics India said the festive hype in India was coming down and the comapny would finalise its strategy for the next year keeping this in mind.
“The festive hype is coming down in India. We have been noticing this in the past two years,” said Soon Kwon, managing director (MD) of LG India, on Wednesday.
LG, which showcased Curved OLED TV and the G-Flex smartphone, said it had priced the 55-inch Curved OLED TV at Rs 9.99 lakh. However, it did not reveal the price of G-Flex which will be available in the country by February.
The curved display would resolve the problem of visual distortion and detail loss, it said. The G Flex smartphone is expected to be priced between Rs 60,000-65,000.
“India is a strategic market for LG and we are the first company to launch the curved series in this marke. Our target is to capture 30% market share in flat panels and 10% market share in smart phones by end of the next year,” said Kwon.
While the company has been launching only high-technology premium products during the past few quarters, Kwon has said that it would continue to have products in all price categories to maintain volume growth.
LG has launched G Flex in October, but restricted sales only in South Korea. Its rival Samsung Electronics, which also have curved smartphone models, have recently slashed prices in the South Korean market itself.
Kwon has said that LG targets to have a 10% share of the smartphone market in India by end of next year.
