LG starts business solutions biz
LG Business Solutions on Wednesday, announced its entry into the business solutions segment, providing highly integrated technology solutions for various business verticals.
The brand introduced high technology products like LED Video wall, Procentric TV and 3D FHD Cinema Projector.
The company is targeting revenues worth over Rs 800 crore and market share of 17 per cent by 2011 from various business-to-business (B2B) deals in government and private sectors.
LG India Group Marketing Head (B2B sales) D P Kim, said that the total size of B2B solutions for integrated display market was around Rs 2,500 crore, growing annually at 20-25 per cent.
Under its new business segment, LG would offer digital devices and solutions for quick service restaurants, education, retails, hotel, office and banking businesses.
“The Union and State governments besides big state-owned enterprises and corporations will form an important client base for us as the government sector is increasingly using digital and business solutions while dealing with people,” he added.
The LG business solutions suite includes digital menu boards for restaurants, digital signages for retail outlets and malls, room infotainment and digital signages for hotels, video conferencing solutions, commercial displays and surveillance cameras, among others.
LG will take both the direct selling and channel partner route to market these products. The company hoped to capture 25 per cent of the market in business solutions category by 2015, Business Head (B2B Sales) Hemendu Sinha said.
Explaining that LG was investing in R&D and nearly 4 per cent of its revenues were being pumped back into research, he said the company had a robust business network and proposed to have regional distributors and system integrators to push its products in the market.
Government, education and security were three main segments LG was looking at for further business momentum, Sinha said, adding, the company was in indirect talks with some of the state governments for some of its products pertaining to security and education.
Currently 30 temples in the country has installed the LG surveillance system, he said. Sinha added LG was also in talks with the Airport Authority of India for its security and surveillance products.
