LG to invest billions to capture Pakistan market

Published: May 17, 2013
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LG Electronics has launched world’s first 84-inch Ultra HD TV, equipped with 3D technology, in Pakistan. PHOTO: lg.com

LG Electronics has launched world’s first 84-inch Ultra HD TV, equipped with 3D technology, in Pakistan. PHOTO: lg.com

LAHORE: LG Electronics, a South Korean multinational company, has launched world’s first 84-inch Ultra HD TV, equipped with 3D technology, in Pakistan with ambitious plans to invest billions of rupees to widen its product range and compete with fellow multinational Samsung in the market.

The 84-inch television carries a price tag of Rs2 million that only the wealthy can afford to buy.

“We have decided to expand our operations by enhancing production capacities to capture growing consumer demand in Pakistan,” said DY Kim, President of LG Electronics Gulf, while talking to The Express Tribune on Thursday.

“Currently, our production in Pakistan is only limited to televisions and LCDs, but in a couple of months we will start producing other household items like microwaves and washing machines,” he added.

LG Electronics is a global leader and technology innovator in consumer electronics, mobile communications and home appliances with 117 operations around the world.

LG achieved global sales of $49 billion in 2011. It is offering products in four segments – home entertainment, mobile communications, home appliances and air conditioning & energy solutions.

In Pakistan, LG is increasing investment to enhance production capacity, but Kim did not divulge exact figure and only said it would be in billions of rupees.

The company is looking to compete with Samsung, which has increased its market share in recent years.

“We want to give consumers with some other option and we are hopeful this will not take much time,” Kim said.

LG is at second place in the US in the home entertainment segment, but in Pakistan it is behind. However, Kim believes that LG, with focus on long-term technologies, will be the strongest company in Pakistan in about a year.

“We want to cover the whole segment for consumers, we have launched 84-inch TV, which I believe is still in its infancy, but it is important to claim a stake in this space and tell our competitors that the company has enough brains to think for future needs.”

LG considers Pakistan an important strategic partner to focus on in a bid to further strengthen its presence here. Though the company is not offering a complete range of products at its first brand shop in Lahore, as it does globally, it hopes that it will fill the gaps in a couple of months.

LG is also working to enhance its product line in the mobile segment in Pakistan.

Published in The Express Tribune, May 17th, 2013.

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Reader Comments (8)

  • Bhatti
    May 17, 2013 - 1:51AM

    Level! :D

    Recommend

  • Moiz
    May 17, 2013 - 4:38AM

    Finally, some actual good news.

    Recommend

  • Humayun
    May 17, 2013 - 5:40AM

    Encouraging. Welcome the investment & job creation

    Recommend

  • Mirza
    May 17, 2013 - 7:57AM

    The govt and experts keep complaining about people not paying taxes. Let us put heavy consumption tax on luxury items which only very rich can buy. Every luxury item should have national ID number and pay taxes just like cars.

    Recommend

  • kumar
    May 17, 2013 - 9:44AM

    LG products are not good………samsung is the better one……………from india

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  • May 17, 2013 - 10:17AM

    LG company investing investing big in Pakistan is good news for a change. They know the businessman cum politician prime minister is good for business climate. Cheers to LG. Salams

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  • Chittagong Dhaka
    May 17, 2013 - 2:31PM

    LG can invest in our country than pakistan.We are working hard to divert the investment pledge from pakistan to us, as we are more promising market than them.

    Recommend

  • Nasir Lahore
    May 17, 2013 - 7:00PM

    @Chittagong Dhaka:
    My friend, Bangalies have no buying power in their business oriented country as compared to Pakistan.

    Recommend

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