Exclusive: LG aims at Rs 3,500 cr revenue from AC biz this year

South Korean consumer electronics maker LG has set a target of mopping up Rs 3,500 crore revenue from its air conditioner business in 2019.

"We have set a target of reaching revenues of Rs 3,500 crore in Air conditioners business. We are also planning to increase our market share by 30 percent against 24 percent in 2018," Kulbhushan Bhardwaj- Business Head- RAC( Residential Air conditioners) LG Electronics India told Gizbot.

During a telephonic interaction, Bhardwaj said, "We are planning to launch a new range of washing machines and refrigerators next month."

"We are hoping that 70 percent AC sales will come from our highly energy efficient 5-star range," he replied when asked about their most successful segments.

Meanwhile, the company has announced the launch of new AC models with 5 & 3-star rating from the Bureau Energy Efficiency (BEE). LG Dual Cool air conditioner ranges from Rs. 31,990 to Rs. 69,990.

The ACs use Smart ThinQ technology, which lets the users control & monitors AC at any time and from anywhere with an app on the phone. Apart from control, consumers can also get filter cleaning notification & control multiple home appliances through smart ThinQ. LG's air conditioners are also equipped with Ocean Black Protection which gives long-lasting protection against rust and corrosion.

Kim-Ki-Wan, Managing Director-LG Electronics, India, said; "Today inverter AC constitutes 60 percent of total AC industry. We aim to further consolidate our market leadership in the AC industry with a new range of DUAL COOL AC's that has a wider line up of 5 stars ACs. This year we have to offer 22 models of 5-star BEE rating as compared to 14 models last year."

Besides. the newly launched AC comes with Smart ThinQ, Mosquito Away technology, Hi-Grooved Copper serves dual benefits, Active Energy Control, and Micro Dust Protection Filter.