Currently, the premium segment constitutes 30% of LG's global sales, including in India.
LG Electronics is planning to increase its presence in premium products in India for boosting profit margins and overall sales.
Currently, the premium segment constitutes 30% of LG's global sales, including in India. But, the South Korean electronics giant is planning to enhance this to 50% with a renewed focus on the segment and a series of fresh launches.
Chris Jung, LG Group Senior Vice President of Head of Appliance Overseas Sales & Marketing, has said that the revenue growth of LG Electronics in India "will be great".
He observed that the company will have to compete with Chinese firms on their price competitiveness, and therefore it is investing heavily in research and development.