LG India aims for top slot in Digital Audio Market
Bangalore, 8th May, 2007: The country’s leading consumer electronics company, LG India today announced it’s foray into the MP3 player and car audio segment. The company has also launched its enticing new “touché “ range of high-end Home Theatres, Lifestyle Audio systems , MP3 players, and high definition DVD that have special features such as a high-gloss piano black bodyline, a sleek touch pad and red lighting that add luxury and sophistication. The bio-indicate lighting in the touch pads allows users to "communicate" with the product, which reacts to user movement in its touch sensor area.
In continuation with its pioneering efforts towards bringing the latest technology to the country, the company also showcased the world's first Dual-format High-Definition Disc Player at the occasion.
Speaking at the launch, Mr. Moon B Shin, MD, LGEIL said, “Our research shows that world over product aesthetics is playing a major role in consumer buying decision. We are extremely pleased to take the aesthetic appeal of products to the next level through our “Touché” series, a first in India. Like all LG products, these new launches will also be a combination of performance, technology and looks and we are confident of capturing unanimous interest of our target audience which is style conscious, upmarket and very sophisticated.”
Post this launch, LG’s product portfolio shall encompass not only the best in home entertainment but also in mobile & in-car entertainment. While the MP3 & MP4 players are priced from Rs. 3000/- to Rs.12,000/- , the car audios will be available at a price range of Rs. 5000-60,000/-
Added an elated Mr. M B Shin , “Audio Video is a focus category for LG, and we will be spending close to Rs. 5 crore in the second quarter of the current year for marketing these products and aggressively targeting the huge consumer base. We are confident of achieving a turnover of Rs 450 Crore in the Digital Audio Video segment by year end. This translates into a 70% value growth in the segment for LG even though the industry itself is growing at the rate lower than 10%. We are already the top brand in video segment & are aiming to achieve the numero uno status in digital audios segment by year end 2007.”