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LGEI to assemble PC monitors by May 2001

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DQW Bureau
New Update

LG Electronics India (LGEI) will assemble PC monitors at its Noida facility by May 2001. With an investment of $10 million in the manufacturing unit, the company expects to roll out 750,000 units in the first year of production. 

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During this fiscal the company plans to scale its focus on IT products by expanding its product range and double the revenue generation from its IT products from the current 10 percent to 20 percent. Revenue generation from IT products during this year will increase to Rs 500 crore as against Rs 200 crore during 2000. 

Besides launching new models in PC monitors, LGEI will launch PC cameras, optical storage products, and notebook PCs. The company hopes to increase its marketshare in the PC monitors segment from 24 percent last year to 31 percent this year. During this year LGEI hopes to increase its sale of monitors from 3 lakh to 5 lakh units. The company hopes to do a first in the world by launching the first DVD RAM during August this year. The new PC monitor range will include finger print recognition monitor and its Internet model. One of the company's mandate during the year will be to consolidate its position in its immensely successful Flatron monitor range which gained a marketshare of 55 percent during the year. 

The last fiscal saw LGEI achieve total turnover sales of Rs 1903 crore as against a target of Rs 1500 crore. This year the target has been set for Rs 2,500 crore during this year. Last year the company clocked a growth rate of 100 percent as against the industry's CAGR of 45 percent.

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