South Korean electronics major LG is looking at a 30% increase in sales at Rs 7,150 crore from its home entertainment division in India this year on the back of good festive season demand.
"We are expecting 30% increase in turnover in our home entertainment division in 2016. Festive season sales are good on better sentiments and economic stability," Hyun Woo (Howard) Lee, Director - Home Entertainment, LG Electronics told . The company's home entertainment division reported a turnover of Rs 5,500 crore in 2015. When asked if the company is looking at any price increase due to increase in input costs, Lee said: "Usually in festive season price point (of products) is lower. However, price of TV's major component module or panel has gone up by 10-15% (and) it is still going up... Regarding any increase as of now I cannot say. We are struggling to reduce other costs." The company today flagged off its CSR campaign along with Smile Foundation on mosquito menace in Delhi NCR. The campaign -- Save your family, save the community -- will focus on awareness, prevention and cure.
"We at LG develop products based on customer insights. We have two products as well -- TV and ACs -- with mosquito away technology," he said.
When asked if the company is looking at introducing this technology with other products, Lee said: "We are working on few things but I cannot disclose at this time."
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