K. R. Kim poses with MyHomNet in New Delhi on Thursday. (PTI)

New Delhi, March 24: LG Electronics India Limited (LGEIL) today unveiled MyHomNet, a digital home theatre solution, to cash in on the growing entertainment solutions market.

The solution clubs the features of digital entertainment and information technology, enabling multitasking of activities.

When connected to an LG server and fed with a cable and an Internet line, MyHomNet enables a person to watch TV, log on to the Internet or listen to music on a single display panel.

Depending on the choice and budget, a consumer can opt for a usual 21-inch colour television or an LCD or plasma display panel (PDP).

Available in three different configurations, these variants range from Rs 1 lakh to Rs 3.5 lakh.

However, the server can only be linked to an LG display panel.

?This is the business equation we have worked out at the moment. In future, we may look at selling the device on a stand-alone basis,? said Prasanna Raghavan, the company?s product group head.

According to him, the total market size of home entertainment solutions, including home theatres, LCDs and projection and plasma TVs, is 40,000 units. LG is setting a target to capture at least 10 per cent of this market in the near future, Raghavan said.

Stating that the market of PDP and LCD is not growing in India at the desired rate, he said, ?By launching new technology and solutions, our endeavour is to create a market for high display solutions.?

While LCD and plasma run on digital technology, both projection and colour televisions are analog products. The price range of an LCD is between Rs 60,000 and Rs 3 lakh, while that of a PDP is Rs 2.25 lakh and Rs 9 lakh. A projection television on the other hand costs somewhere between Rs 80,000 and Rs 2 lakh.

LGEIL, which achieved a total turnover of Rs 6,000 crore in 2004, is eyeing Rs 9,000 crore this year. LGEIL has set a target to sell 2 lakh PCs in 2005, up from 74,000 last year, with the turnover of the IT division expected to increase during the year to Rs 1100 crore.

The company has also stepped up its R&D investment in converged digital products to Rs 15 crore during the year from Rs 6 crore last year, K. R. Kim, president, Southwest Asia, LG Electronics and MD LGEIL, said.