Korean consumer durables manufacturer LG Electronics is eyeing a 33% market share in home appliances and Rs 6,100 crore revenue (from India) by the end of this year.
"With new smart range of home appliances we expect to bolster our home appliances sales at a growth rate of around 35% and aim to hold our market leadership position with a targeted market share of 33% in 2011," LG Electronics India's Managing Director, Soon Kwon said in a statement issued here.
"LG Electronics India has aggressive plans to invest Rs 138 crore in manufacturing and Rs 240 crore in marketing of home appliances, along with a vast after sales service network," he added.
LG Electronics India had achieved a total turnover of Rs 16,000 crore in 2010.
The firm today launched two new products -- washing machine and a microwave oven.
It said its 16-kg capacity washing machine can reduce energy usage by up to 30% over other washing machines and is priced in the range of Rs 24,290 to Rs 70,990.
