March 5, 2021

LG to stop LCD production, focus on LEDs

KOLKATA: LG Electronics India said it would phase out production of LCDs in the next few months and would instead focus on LEDs and other flat panel products.117790-lg-32ls4600-led-32-inches-full-hd-television-picture-large

“The company will focus on LEDs and ultra HD LED TVs. The production of LCDs will be stopped in India as the demand has declined sharply,” LG Electronics India marketing head (home entertainment) Rishi Tandan said here today.

He was in the city to launch a new line of LED-based flat panel products tailored for India.

“We have also lined up new audio products to revive this line of business with a target to double the sales this year,” Tandan said.

Television forms major business of home entertainment division and this division contributes about 38 per cent of the Rs 16,000 crore turnover in 2012,” Tandan said.

In 2012, the company had nine LCD models and all new products in flat products that are launched are LED based, he said.

“The company plans to roll out 45 new models in flat panels of which 15 models are from India-specific products,” Tandan said.

The launch of the company’s new LED product range in the country aligned to its India-specific strategy is aimed at a sale of Rs 5,000 crore, a growth of 70 per cent over last year’s LED sales, he added.

LG is also planning to introduce OLED TVs, widely considered to be the next step in the evolution of TVs, which are thinner, lighter and brighter.

Asked about the CRT television business, LG regional manager (east) Ranjit Kumar said the company did not want to lose out in this market and would continue as the long market demand persists.

“Though demand for flat products is growing in this part of the country (east), it has considerable demand for CRT television too and so we continue to sell CRTs,” he said.

Source-Times Of india