Stories
LG Electronics Targets Double-Digit Festive Sales Growth, Ramps Up Global Exports
- •LG Electronics India anticipates double-digit sales growth this festive season, driven by improved consumer sentiment, GST affordability, and an extended festival window.
- •The company is expanding its export markets and product portfolio, aiming for a double-digit contribution to overall revenue from overseas in the coming years.
- •LG maintains strong growth momentum, with a 15.5% revenue increase in the June quarter and continued growth into the current quarter.
- •New product launches for the festive season include French-door refrigerators, QNED and OLED televisions, chest freezers, and 15 new semi-automatic washing machine models.
- •Exports, currently contributing 6-7% (around $150 million) to revenue, are a key growth area, with plans to reach double-digit contribution soon and expand to 66 countries.
Key Questions Answered
LG Electronics India expects a comfortable double-digit growth in sales this festive season compared to the previous year. This is supported by improved consumer sentiment, GST-driven affordability, and a longer festival window with Diwali falling on November 8.
The company has expanded its export portfolio from 47 countries at the time of its IPO to 66 countries. It has targeted 22 countries with its Essential Series and is working to bring overseas markets to a double-digit revenue contribution.
LG launched a new range of semi-automatic washing machines comprising 15 models across 8 kg to 12 kg capacities. Additional festive season line-ups include French-door refrigerators, QNED and OLED televisions, and a newly introduced chest freezer range.
