V. Ramachandran in Kuala Lumpur. (PTI)

Kuala Lumpur, May 5: Consumer electronics and durables maker LG Electronics India is planning to strengthen its position in the LCD and plasma television market and nearly double its turnover to Rs 16,000 crore by 2010.

LG India recorded a turnover of Rs 9,500 crore in 2007 and is aiming to clock Rs 11,000 crore in this calendar year.

The company is targeting a market share of 30 per cent in the LCD and 50 per cent in the plasma television segments by the end of this year. LG now has a 22 per cent market share in the LCD segment and 45 per cent in plasma.

The company launched a range of LCD and plasma television models here today. The range included the 1.8-inch thick Scarlet LCD TV series for the Indian market.

The Scarlet range, priced between Rs 40,000 and Rs 4 lakh for displays of between 32 inches and 47 inches, was launched in the US and Europe last month. The company expects the Scarlet range to drive its growth in the higher segment while models in the LG 30 series are expected to improve LG’s position in the mass segment.

V. Ramachandran, director — sales and marketing of LG Electronics India, said, “The size of LCD and plasma television market is around 5 lakh units per annum and is expected to grow to 8 lakh units by the end of this year”.

The company also introduced two washing machine models — front-loading model Steam Tromm and a top-loading machine — for the Indian market. Steam Tromm works on a technology that requires negligible maintenance, has low noise level and comes with a child lock. The machine is priced at Rs 70,000.“We are planning to raise our market share to 32 per cent from 28 per cent in this category,” said Ramachandran.

The washing machines will be manufactured in the company’s facility in Greater Noida and the television models will be made in the Pune unit. However, LCD television LG 50 will be imported.