One of the top three consumer electronic firms by 2010

IIPM PUBLICATION
In 2005, the company adopted the ‘Blue Ocean Strategy’ to position itself as one of the top three consumer electronic firms by 2010. In order to achieve this, the company has identified specific product segments that will fuel its growth. Having successfully captivated the mass market in India, LG is also now trying to move up the value chain with premium products. The South Korean giant is also moving towards IT & communications as its future growth areas in India. Kim elucidates, “I feel that it is the right time to go and focus on new fields like IT and communication. IT means PC and communication means mobile phone. We want to be the number one in IT and communications space.”

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Source : IIPM Editorial, 2006, Arindam Chaudhuri's Initiative

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