LG Electronics India Pvt. Ltd., announced today, its foray into a new territory of Small and Medium Businesses (SMB) market of India. After successfully establishing itself as a leading player in Home Electronics, Appliances and IT business solutions, LGEIL has taken a step further by venturing into the unexplored $400 million SMB market. The SMB sector will witness the launch of extensive range of Office Solutions innovatively developed by LGEIL.
Online PR News – 28-December-2009 – – LG forays into SMB segment
launches innovative Office Solutions for SMB segment
• Global launch of Office Solutions for SMB segment.
• Expected to gain 10 % of estimated $400 million SMB market in 2010 within India.
• LGEIL plans to invest Rs.200 Crores by 2013
New Delhi, December 23, 2009: LG Electronics India Pvt. Ltd., announced today, its foray into a new territory of Small and Medium Businesses (SMB) market of India. After successfully establishing itself as a leading player in Home Electronics, Appliances and IT business solutions, LGEIL has taken a step further by venturing into the unexplored $400 million SMB market. The SMB sector will witness the launch of extensive range of Office Solutions innovatively developed by LGEIL.
India is the second largest country in the world in terms of the number of SMBs totalling to 35 million. With more than 70% of the Indian SMBs preferring one stop shop buying for all their office equipment, this sector provides immense opportunity and potential for growth. With this, LGEIL plans to invest Rs.200 Crores over next 3 years in this initiative. The LG SMB Solution is an attempt to provide full range of electronics, appliances & computing solutions to SMB owners at 'one-stop'.
With the launch of LG SMB Solutions, we aim to support the Indian B2B segment with our collective offering. We are confident that our Technology strength backed with market insight and research will enable us to offer SMB specific and vertical Specific products, creating an effective business environment for SMBs in India. The single source buying & service support will enhance the comfort of Indian SMB customers.” Said Mr. M. B. Shin, Managing Director, LG Electronics India Pvt. Ltd.
“India market plays a significant role in the global map for LG. The Business Solutions Products have contributed positively in the overall turnover of the company. We have witnessed tremendous growth in the year 2009. The Business Solutions division of LG India has generated revenue of 170M$ in Y2009 with overall growth of 10 per cent and No.1 Market Share on Monitors. Our India division has shown immense opportunity for growth of SMBs as the country provides a unique business environment for them. We are positive that our basket of products offered will set new standards in enhancing the productivity of SMBs.” said Mr. Paul Kim, Head of Business Solutions GTM Team, LG Electronics Pvt. Ltd, South Korea.
Adding to this, Mr. R. Manikandan, Business Group Marketing Head, Business Solutions, LG Electronics Indian Pvt. Ltd. said, “LG Business Solutions products find right fitment in the SMB segment such as Network Monitors, Surveillance Security & Commercial Displays. LG Network Monitors work on PC Virtualisation principle enabling one PC to be shared by up to 11 Users. Integrating the Employee welfare products such as MWO, Refrigerators & Air conditioners / Purifiers etc, we are in a position to offer single source buying to SMBs for all their office needs.” said Mr. R. Manikandan, Business Group Marketing Head, Business Solutions, LG Electronics Indian Pvt. Ltd.
The innovative range includes Network Monitors, Digital signage, Projectors, Surveillance security, water purifiers, air conditioners, refrigerators & microwave ovens etc. With the new SMB Solutions, LG aims to provide SMB owners, the one – stop sourcing and customized solutions for the business environment. The new LG SMB Solutions will be helpful for busy business owners to purchase products & avail service support needed for their businesses, with ease & comfort.
LG's Business Solutions has simplified various business processes by meeting diverse needs of consumers as well as partners. The LG SMB Solutions is the easiest way to procure a full range of office equipment required for the business environment. The new business model is designed to offer resellers and distributors a new opportunity.
About LG Electronics India Pvt. Ltd.
LG Electronics India Pvt. Ltd., a wholly owned subsidiary of LG Electronics, South Korea was established in January 1997 in India. It is one of the most formidable brands in consumer electronics, home appliances, IT hardware and mobile communications space. In India for a decade, LG has earned a premium brand positioning and is the acknowledged trendsetter for the industry.
LGEIL has achieved a turnover of Rs 10,730 crore in 2008. LGEIL's manufacturing unit at Greater Noida is one of the most eco-friendly units among all LG manufacturing plants in the world. The second Greenfield facility is located at Ranjangaon; Pune has the capacity to manufacture GSM Phones, Colour Televisions, Air Conditioners, LCD TVs, washing machine, refrigerators and Optical Disc Drives. This is India's first mobile phone manufacturing unit and also Asia's largest Optical Disc Drive manufacturing plant.
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