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The Dollar Business Bureau Impacted by global recession and mounting tension prevailing with China, the Asian country - South Korea is making a strong bid to further expand its footprints in the Indian market, where it sees enormous opportunity for growth. Against this background, South Korean consumer electronics giant LG is looking at making India its export hub, relying on good ties between the two countries at a time when its overseas shipments from China are falling. The company, with its two decades of presence in the country, has been delivering electronic goods and home appliances which are customised to suit the Indian consumer needs. “Indian consumers love LG. That’s why we could grow every year and are now positioned as a very ...

Sharath Chowdary New innovation and latest technology is driving the growth of LG Electronics in India. Innovative product range has helped the company to achieve 26% growth in H1 (January-June) of 2016 when compared to the corresponding period last year, the company’s Director-Sales for South & West Sanjeev Agarwal told The Dollar Business Bureau. “With the recent launches, we are expecting more than 32% growth in H2 of 2016. Consumers will spend more money to buy electronic goods due to the 7th Pay Commission and good monsoon in the coming festive season during September-November,” he said at LG Tech Show 2016 held for the first time in Hyderabad last week-end. To cater the festive demand in the country, LG has introduced 20 different models in TV (32”-98” ...

Sharath Chowdary The Telangana government is ready to offer land parcels for various Korean companies to set up their base in the state. The government will work on creating an investment cluster to cater to the basic needs of Korean companies investing in the state, Telangana Industries Principal Secretary Arvind Kumar told The Dollar Business. He was speaking to the media while taking part in the Korean Caravan 2016 in Hyderabad on Wednesday. The Caravan was organised by the Confederation of Indian Industry (CII) in association with the Embassy of the Republic of Korea. Arvind Kumar said, “Last month, Telangana Chief Secretary Rajeev Sharma had proposed to develop an exclusive industrial park for Korean companies, during a meeting with the Union government in New ...

The Dollar Business Bureau Korean tech major, LG, on Wednesday announced that it will launch new affordable and flagship devices this year in India, as it is looking to regain its lost foothold in the local smartphone market. "We are looking to launch new devices in Rs.10,000 and Rs.15,000 range. Till the third quarter of this fiscal, before Diwali, we are expecting to introduce 5-6 models into the market," Ki Wan Kim, MD of LG electronics India said. Depending on the response, we may look at bringing more smartphones specifically designed for the Indian customers, he added. The South Korean multinational said it is more concerned about Indian market and is analysing various sectors. The company is planning to bring more products in the ...