LG ELECTRONICS CLOCKS 16 % GROWTH IN 2001 Achieves Annual Sales Turnover of Rs. 2,216 crore in 2001

LG ELECTRONICS CLOCKS 16 % GROWTH IN 2001 Achieves Annual Sales Turnover of Rs. 2,216 crore in 2001

PRESS RELEASE

For Immediate Publication:

LG ELECTRONICS CLOCKS 16 % GROWTH IN 2001
Achieves Annual Sales Turnover of Rs. 2,216 crore in 2001

 Targets total turnover of Rs. 2,700 crore in 2002

New Delhi, feb 2002: LG Electronics India Ltd. has recorded a turnover growth of 16 % for the year 2001, clocking a sales turnover of Rs. 2,216 crore for the year.

Mr. K.R. Kim, Managing Director, LG Electronics India Ltd., said, "I am extremely pleased with our performance in 2001 as we have been able to sustain growth during a year of slowdown in the consumer electronics and home appliances industry." He added, "Our growth record has led us to expand manufacturing presence in India. We have accordingly reinforced our sales and distribution network through the concept of area offices to reach
out more Indian consumers in semi urban and rural India. "

SALES & MARKET SHARE :

Performance in 2001

Category    % Growth (2001)   Market Share    Market Ranking
CTVs   27%   12%   No. 3
FF Ref   18%   19%   No.2
(No1 in 300Ltr)
DC Ref   15%   9%   No 5
Air Conditioners   18%   26%   No 1
Fully-Automatic
Washing machines    8%   11%   No1
Semi-Automatic
Washing machines   5%   23%   No 1 in 6 kg and above
Microwave Ovens   14%   32%   No1

Colour Televisions:

LG Electronics has targeted to become Indias single largest value CTV brand in India in the year 2002. Having achieved a milestone of selling 6.5 lakh CTV units in the year 2001, LG has chalked out a strategy to achieve this vision of becoming the single largest CTV brand in 2002,. It is targeting to sell 8.5 lakh CTV Units in the current year, thereby increasing its market share from 12% in 2001 to 15% in 2002.

Air Conditioners

LG Electronics has achieved a record sale of 1,00,000 Air Conditioners (Windows and Splits) in the year 2001. This is first ever one lakh mark in a calendar year in the Air conditioner (Windows and Splits) category in the Indian home appliances industry. The company is also looking at 2002 very ambitiously with target sales of 1.5 lakh units this year. LG also plans to
increase its market share from the current 26% in 2001 to 31% in 2002

Refrigerators

LG has targeted to become India¡¦s largest frost-free refrigerator brand in the year 2002. The company, which achieved a 16% growth in 2001 over last year, has chalked out a strategy to achieve its vision. The company has planned a slew of launches in the Sub-300L segment & DIOS refrigerators to address the needs of all the consumers in the premium, middle and the lower segments by launching 10 new models across the product portfolio. The company aims at increasing its market share from 19% in 2001 to 35% in 2002

Washing Machines

With the current market share of 21% in the Semi Automatic Washing Machine segment and 11% in the Fully Automatic Washing Machine segment, the company aims at increasing the share to 27% and 20% respectively in the year 2002. Effective April 2002, LG will begin the local production of fully automatic washing machines at its manufacturing unit at Greater Noida.

Microwave Ovens

Currently, the market leader in the microwave industry with 32% share, the company aims at increasing the share to 35 % in 2002. With the existing product range of eight models, LG Electronics is all set to launch new variants in its microwave ovens category in the 26-litre capacity in the Convection category. Besides these the company will be launching four more
models targeted at the premium segments.

IT Products

In its IT business, LG¡¦s focus this year will be on brand building to enhance market share and strengthening the channel partner relations. LG plans to ramp up its channel operations with an extended agenda of expansion both in terms of reach and product portfolio. LG has planned to
flood the market with an array of new products including DVD RAMs and combo drives. LG will be the only company to offer DVD Rams in the Indian market. The company also plans to rejuvenate its high-end monitor range with the launch of 15"TFT/ multimedia LCD monitor, 18" TFT monitor, 17" TFT monitor, 22" natural Flatron monitor, 17" high end Flatron monitor.

LG Electronics India is the fastest growing company in the consumer electronics, home appliances and computer peripherals industry today. The company has recently achieved a cumulative turnover of Rs 5000 crore in India ever since its inception in 1997. This is the fastest ever Rs 5000 crore clocked by any company in the Indian consumer electronics and home
appliances industry. LG Electronics is continually providing superior technology products & value for money to 3.80 million households and 20 million customers in India.

For further information, please contact:
Sameer Ranade
Saprom
Email saprom@hotmail.com
98230-66106