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William Cho, Chief Executive Officer, LG Electronics Inc, visited India, its fastest growing market, this week. His visit comes at a time when the South Korean consumer durable major is focusing on ramping up its investments to increase the production capacity of its manufacturing facilities in India and is also looking to diversify its product offerings for the mobility and edu-tech sectors.
During his visit, Cho took stock of the company’s India operations to check ways to strengthen business competitiveness, a statement added. He visited the New Delhi sales corporation, the home appliance production and R&D facility located in Noida.
In a meeting with the employees of LG Electronics India, the global CEO emphasised on the company’s focus on “discovering new business opportunities for their advanced premium home appliances.” The company will sharpen its focus on customer experience innovations and creating customised service strategies to further to enhance the brand’s status in the Indian market, the statement added.
He added that the company has “robust” plans for the Indian market and is committed to achieving them in a sustainable manner.
Also read: LG India eyes 25-30 per cent growth in home appliances biz, expands domestic manufacturing footprint
“We are happy to be a partner in India’s tech transformation journey for the last 26 years and we remain committed to creating more industry-leading localised innovations that address the need of our consumers. Moreover, we are progressively focusing on diversifying our offerings as well to cater to customers in the mobility and EduTech sectors with advanced electronic blackboards and IT solutions. This year, we will also amplify our investments to expand the production capacity of premium home appliances in Noida and Pune factories,” Cho said in a statement.
The visit of LG’s top boss indicates the growing importance of the Indian market for the company that has been focusing on strengthening its presence in the country. LG Electronics India has been ramping up localisation of its products over the past few years.
LG has also pledged to convert 100 per cent of the energy used by all overseas production subsidiaries to renewable energy by 2025.
Currently, refrigerators, washing machines, air conditioners, TVs/monitors, produced at the company’s India manufacturing facilities not only cater to the local demand but are also exported to the Middle East and Africa, the company stated.
“We are thankful to our customers for their continued trust in LG Electronics and we are confident to remain their preferred brand for elevating their health and lifestyle,” Cho added.
In the first half alone, Cho has visited 12 countries in North America, Europe, Central and South America, Asia, and the Middle East.
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