LG to cap­ture Pak­istan mar­ket

Enterprise - - News -

LG Elec­tron­ics, a South Korean com­pany, has launched the world’s first 84-inch Ul­tra HD TV, equipped with 3D tech­nol­ogy, in Pak­istan with am­bi­tious plans to in­vest bil­lions of ru­pees to widen its prod­uct range and com­pete with fel­low multi­na­tional Samsung in the mar­ket.

The 84-inch tele­vi­sion ser car­ries a price tag of Rs. 2 mil­lion.

“We have de­cided to ex­pand our op­er­a­tions by en­hanc­ing pro­duc­tion ca­pac­i­ties to cap­ture grow­ing con­sumer de­mand in Pak­istan,” said DY Kim, Pres­i­dent of LG Elec­tron­ics Gulf.

“Cur­rently, our pro­duc­tion in Pak­istan is only limited to tele­vi­sions and LCDs, but in a cou­ple of months we will start pro­duc­ing other house­hold items like mi­crowaves and wash­ing ma­chines,” he added.

LG Elec­tron­ics is a global leader and tech­nol­ogy in­no­va­tor in con­sumer elec­tron­ics, mo­bile com­mu­ni­ca­tions and home ap­pli­ances with 117 op­er­a­tions around the world.

LG achieved global sales of $49 bil­lion in 2011. It is of­fer­ing prod­ucts in four seg­ments – home en­ter­tain­ment, mo­bile com­mu­ni­ca­tions, home ap­pli­ances and air conditioning & en­ergy so­lu­tions.

In Pak­istan, LG is in­creas­ing in­vest­ment to en­hance pro­duc­tion ca­pac­ity, but Kim did not di­vulge ex­act fig­ure and only said it would be in bil­lions of ru­pees.

The com­pany is look­ing to com­pete with Samsung, which has in­creased its mar­ket share in re­cent years.

“We want to give con­sumers with some other op­tion and we are hope­ful this will not take much time,” Kim said. LG is at sec­ond place in the US in the home en­ter­tain­ment seg­ment, but in Pak­istan it is be­hind. How­ever, Kim be­lieves that LG, with fo­cus on longterm tech­nolo­gies, will be the strong­est com­pany in Pak­istan in about a year.

“We want to cover the whole seg­ment for con­sumers, we have launched 84-inch TV, which I be­lieve is still in its in­fancy, but it is im­por­tant to claim a stake in this space and tell our com­peti­tors that the com­pany has enough brains to think for fu­ture needs.”

LG con­sid­ers Pak­istan an im­por­tant strate­gic part­ner to fo­cus on in a bid to fur­ther strengthen its pres­ence here. Though the com­pany is not of­fer­ing a com­plete range of prod­ucts at its first brand shop in La­hore, as it does glob­ally, it hopes that it will fill the gaps in a cou­ple of months.

LG is also work­ing to en­hance its prod­uct line in the mo­bile seg­ment in Pak­istan.

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