LG INDIA TO BREAK EVEN BY YEAR-END, PLANS NEW PRODUCTS
Article Abstract:
LG Electronics India Ltd (LGIL), a subsidiary of the South Korean Chaebol LG, expects to break even by the end of 1998 and post a nominal profit of $1 million. The targeted turnover of Rs400 crore is expected to be overshot by Rs100 crore. An investment of $25 million has been planned for 1999, with another $65 million in the year 2000 to expand capacities. LG is to soon launch the flat picture tube TV and will launch a clutch free turbo drum washing machine in June 1999. A refrigerator consuming low power, costing Rs1.5 lakh, will be imported by February 1999. Other product launches planned include air conditioners and microwave ovens. LGIL has a tie-up with Avco Financials for easy finance schemes on all LG products. (nr)
Comment:
LG Electronics India Ltd (LGIL), a subsidiary of the South Korean Chaebol LG, expects to break even by the end of 1998 and post a nominal profit of $1 million.
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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PHILIPS LAUNCHES BRAND BUILDING CAMPAIGN GLOBALLY
Article Abstract:
Philips started its new global brand building campaign on October 13, 1998 and has planned an advertising budget of Rs30 crore for the Indian market over the next 4-5 months. The new advertising company has decided to retain its slogan - lets make things better - but will now add a personal touch which was lacking earlier. The company has decided to discontinue all its existing advertisement commercials. (khr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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