Magazines Archives - 2011 August

LG launches B2B solutions for retailers in India
Story 8 - Retail Technology

LG Electronics India, which is the Indian arm of South Korean electronics giant, set foot on the country’s B2B solutions market in June this year, launching 40 integrated technology solutions for the various business sectors, including retail.

Leveraging its strong foundation in technology R&D, company officials told local media that LG expects to reach more than Rs800 crore (US$181 million) in revenue this year for its new B2B solutions, taking a 17% share of India’s Rs2,500-crore B2B solutions market.

“We are confident that LG Business solutions will find right fitment in the Indian B2B market. Our technology strength, backed with market insight and research and development, will enable us to offer vertical-specific products, creating an effective business environment in India,” Soon Kwon, president for South-west Asia region and managing director of LG Electronics India, reportedly said.

Kwon further revealed that the group has been developing “new and innovative solutions” to service these vertical-specific products from two years ago. Backed by the “immense potential” in emerging countries such as India, he revealed that the company plans to gain up to 25% of the market by 2014.

Among the products that the company has rolled out are commercial displays, video-conferencing systems, projectors, security cameras and a 47- inch LED video wall.

“However, we plan to manufacture a few products under digital signage such as LG EzSign TV that has numerous free templates, which can be customised to fit the needs of different industries, from our Pune unit from [July],” Kwon added.

The company has also set aside Rs1,500 crore to expand it operations this year, and step up its mobile and IT businesses as well. ra

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