Soon H. Kwon, MD, LG Electronics India, talks about his company’s growth and positioning strategies in a very competitive Indian market
Competition has risen in the Indian consumer durables market post-recession. How is LG dealing with this change in environment?
The Indian consumer durables market has become very competitive today. During the past few years consumers have become willing to pay more for features and quality products. LG’s entire strategy depends on how to meet demands of new age customers. We are constantly introducing new products & categories with a key focus on localisation.
Your core positioning strategy has changed. LG was a mass market brand, and today, it is being positioned as a premium offering. Is this strategy working for the brand?
We are still working towards becoming a premium brand from a mass market brand. We are working on our products, communication strategy, and with channel partners. As far as market share and leadership in the segment is concerned, we still lead in most of the product lines and are not far behind in some. We are working hard to protect our leadership by launching new products with the latest technologies and combining such launches with better communication.
Samsung, Sony and Panasonic are regularly launching innovative products. But actually, we haven’t seen much from LG. Why?
Our brand spends heavily in understanding consumer insights and lifestyle. Depending on that we launch products which our customers demand. Our marketing activities are then planned accordingly. So we launch innovative products as and when the consumers demand them. Ultimately, our aim is to sell good products.
The mobile handset segment has been a trouble area for LG. What’s your plan on this front?
Yes, we still need to catch up in the handsets segment as our performance is not satisfactory as compared to how we fare in other categories. We are working on it. This year we will launch 12 new Android handsets in the price bracket of Rs 7,000 to Rs 35,000 for Indian consumers. We will begin the launch from May with Optimus 4X HD smartphone with Android 4.0 Ice Cream Sandwich OS and quad core Nvidia Tegra 3 mobile processor. These launches will definitely enhance our market share in mobile handsets.
Competition has risen in the Indian consumer durables market post-recession. How is LG dealing with this change in environment?
The Indian consumer durables market has become very competitive today. During the past few years consumers have become willing to pay more for features and quality products. LG’s entire strategy depends on how to meet demands of new age customers. We are constantly introducing new products & categories with a key focus on localisation.
Your core positioning strategy has changed. LG was a mass market brand, and today, it is being positioned as a premium offering. Is this strategy working for the brand?
We are still working towards becoming a premium brand from a mass market brand. We are working on our products, communication strategy, and with channel partners. As far as market share and leadership in the segment is concerned, we still lead in most of the product lines and are not far behind in some. We are working hard to protect our leadership by launching new products with the latest technologies and combining such launches with better communication.
Samsung, Sony and Panasonic are regularly launching innovative products. But actually, we haven’t seen much from LG. Why?
Our brand spends heavily in understanding consumer insights and lifestyle. Depending on that we launch products which our customers demand. Our marketing activities are then planned accordingly. So we launch innovative products as and when the consumers demand them. Ultimately, our aim is to sell good products.
The mobile handset segment has been a trouble area for LG. What’s your plan on this front?
Yes, we still need to catch up in the handsets segment as our performance is not satisfactory as compared to how we fare in other categories. We are working on it. This year we will launch 12 new Android handsets in the price bracket of Rs 7,000 to Rs 35,000 for Indian consumers. We will begin the launch from May with Optimus 4X HD smartphone with Android 4.0 Ice Cream Sandwich OS and quad core Nvidia Tegra 3 mobile processor. These launches will definitely enhance our market share in mobile handsets.
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