LG India sees 40% growth in home appliances

Consumer durables maker LG Electronics India is expecting over 40 per cent growth in the home appliances business this year after increasing offerings in various segments.

“This year we will be achieving fantastic growth as we reposition many products,” Rajeev Jain, business head of home appliances, LG India, said. The home appliance segment, which includes products such as washing machines, microwave ovens and vacuum cleaners, saw 32 per cent growth last year.

Jain added that as a company policy, LG would not offer any discounts or gifts during the festive season from this year, and instead provide additional features and warranties on products.

“Our studies have shown that customers are not looking at discounts but they seek
a reliable product with additional features,” Jain added.

LG, which aims to increase its market share in home appliance to 30 per cent by 2010, has also launched a range of air purifiers.

The company expects overall sales to grow 25 per cent in 2009, against a 16 per cent rise last year. The festive season is expected to contribute about 30 per cent of sales. It posted sales of Rs10,730crore last year.