[Digital Times, Park Seul-gee] LG Electronics has grown 60 times in its Indian sales in 20 years after entering Indian market. LG Electronics is celebrating its 20th anniversary of Indian market expansion.

LG Electronics revealed on May 8 that sales of its Indian subsidiaries has grown by nearly 60 times compared to the first year of Indian sales in 1997, with amount of about USD 2 billion. The number of employees increased from 400 to more than 3,400 over the same period and 99% of the employees are locals.

LG Electronics established a subsidiary in Noida, India in 1997. The current production base is in Noida and Pune, and the software laboratory is located in Bangalore. The Indian subsidiary of LG produces products that are exported to the Middle East and Africa, as well as products are sold to the Indian market. The main items are TV, refrigerator, washing machine, air conditioner and smart phone.

LG Electronics explained that the growth of Indian subsidiaries is a thorough localization strategy. LG Electronics has introduced a water purifier that improved its water purification performance as a locally specialized product, a refrigerator that is able to keep the cold temperature for up to 7 hours even when the power supply is cut off, and an air conditioner that is able to chase the mosquito with ultrasound and TV. Over the past 20 years, cumulative sales have reached 50 million TV sets, 30 million refrigerators, 16 million washing machines, and 4 million microwave ovens.

Meanwhile, LG Electronics` Indian subsidiary has launched various social contribution events such as a campaign to eliminate children`s hunger, land development project to solve water shortages, and a science classroom to cultivate environment awareness of children. According to market researcher TRA, LG Electronics was named `2016 Most Attractive Brand` and `2015 Most Trusted Brand` in India.

LG Electronics` Indian subsidiary has been offering 20-month interest-free installments and product discounts from the previous month until the end of the year to celebrate the 20th anniversary of its entry into the Indian market.

Kim Gi-wan, head of LG Electronics Indian subsidiaries (vice president) stated, "LG Electronics has grown to become the most beloved brand for Indian consumers for the last 20 years. We will continue to launch products that will help the lives of the Indian people and keep our social contribution in India.”

By Park Seul Gee seul@


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