LG Electronics India sales expected to be Rs 160 billion by year end

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LG Electronics India is expected to achieve Rs 3.5 billion sales turnover from south Indian state of Kerala during Onam and Rs 160 billion pan-India during 2012.

Onam, one of the biggest festivals in Kerala, is on August 28 this year. Last year, the turnover was much less,  V Verman, director (Home Appliances) at LG India, said reporters here.

Announcing the ‘Onam’ festival plan for the Kerala market, he said the company was eyeing sales growth of 20 percent this season with a targeted turnover of Rs 3.5 billion from the state.

The total turnover being targeted from the state is Rs 7.5 billion, while Rs 160 billion is the national target.

Pointing that LG had absorbed lot of extra costs due to rupee depreciation (20 percent) and raw material cost hike (15 percent), due to which they had increased prices of all products by 15 percent, he said.

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