LG Electronics India has launched a new 84-inch 3D TV which will be officially made available for retail purchase from the beginning of next month onwards.
According to company's press release the new 3D TV will be priced at Rs.17,00,000 and users will be able to purchase it from November 1 onwards.
Consequently, Soon Kwon, Managing Director of LG Electronics India stated that the company is targeting to achieve revenue of up to 10 billion from 3D TVs and is further looking for maintaining a consolidated position in the flat panel TV segment.
He further stated about the company"s mission is to achieve 30 percent market share in the flat panel TV segment and 45 per cent share in 3D TV segment. Soon Kwon was stated saying in an official press release, “We have an aggressive marketing strategy with a target investment of Rs.1 Billion in flagship product communication accompanied by experimental marketing campaigns."
LG has also informed that it will be displaying the 84-inch Ultra HD 3D TV in the Home Electronics Show which will be held from October 26 to October 28.
The device will be facing stiff competition from 75-inch Smart LED TV from Samsung Electronics which is expected to be priced around Rs.7,50,000. The release of these two products from LG and Samsung have paved the way for the arrival of Ultra HD TV"s in to the growing Indian market. The first company to release an Ultra HD TV was Sony which introduced its 84-inch UHD TV in India for a price tag of Rs. 16,99,990.
Analysts predict that most of the major electronic retail brands are looking to come with attractive offers with their respective tech consumer product launches, so as to grab a major market share during the upcoming festive season in India. Several electronic product manufacturers have already made considerable investments in an emerging economy like India which is witnessing high demand for consumer electronic market.