Calcutta, July 16: LG Electronics India has set a sales target of Rs 5,500 crore in 2004 against an expected turnover of Rs 4,000 crore in 2003.
The company is expecting a major sales growth in air-conditioners and colour televisions. LG hopes to sell around 1.7 million units of colour televisions this fiscal and around 2.3 million units in 2004.
“Colour televisions contribute over 55 per cent to our total sales and now air-conditioners will add to our revenues in a big way,” said Anil Arora, head-marketing.
Arora was here to launch three ranges of colour televisions — Cinemax, Joymax Deluxe and Marquis Deluxe.
The company hopes to sell 6.6 million units putting together all products in 2004 while this year the company will sell around 4.8 million units.
To achieve the sales target for 2004, the company is setting up a new manufacturing unit in Pune. The unit is expected to start production in August next year.
“We have a major investment plan for the new plant where initially the colour televisions and air-conditioners would be manufactured,” he said adding the company would invest around Rs 500 crore over the next two years. The company has already procured land and made sizeable investment for machinery, he added.