LG is now eying the Indian SMB market with a complete range of products. The Korean electronics giant has a firm strategy to capture 10 percent of the $400 million market in India within the next one year. The range of products in the SMB portfolio include network monitors, projectors, laptops, digital signage, surveillance security, water purifiers, air conditioners, refrigerators and microwave.
"In terms of the number of SMBs, India is the second largest country in the world totaling to 35 million. Since more than 70 percent of the Indian SMBs prefer one stop shop buying for all their office equipment, this sector provides immense opportunity and potential for growth," Moon B Shin, Managing Director, LG Electronics India. The LG SMB Solution is an attempt to provide full range of electronics, appliances & computing solutions to SMB owners at 'one-stop'.
Shin added, "We would support our reseller partners by organizing promotional activities to raise awareness on LG SMB Solutions among both target users (SMBs) and potential users (general customers). We intend to build SMB experience zones for customers to visit and explore the right products."
The wants to increase its focus on IT and it feels that the commercial segment would be the key to its growth in the next year. The company has now added a slew of products to its enterprise portfolio, launched this year, to lure the SMB.
The company also plans to spend Rs 200 crore in R&D and other activities over the next three years for its Business Solutions division, which includes about Rs 28 crore ($6 million) investment plan for marketing activities in 2010. By April 2010, LG also plans to launch an SMB finance program with 0 percent finance and deferring payments up to three months and lease program.
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