Korean consumer durable maker LG Electronics entered the country’s business solutions space on Tuesday. It is eyeing Rs 1,000 crore in revenues from the segment by 2014.
The business solution offering of LG includes digital menu boards for restaurants, digital signages for retail outlets and malls, room infotainment and digital signages for hotels, video conferencing solutions, commercial displays and surveillance cameras, among others.
The domestic business-to-business solution for integrated display market is estimated to be around Rs 2,500 crore and growing at the rate of 20-25 per cent every year.
LG, which is eyeing 25 per cent share in the segment in the next 2-3 years, will use both the direct selling and channel partner route to market these products.
"We are highly confident that LG Business Solutions finds right fitment in the Indian B2B market. Our technology strength backed with market insight and R&D will enable us to offer vertical specific products, creating an effective business environment in India," Soon Kwon, president (South West Asia region) & MD, LG Electronics India Pvt. Ltd said.
"We will sell 30 per cent of the total product offering directly and balance 70 per cent through channel partners," said LG Electronics India Senior General Manager – B2B marketing Dong Pil Kim .
Source : Economic Times