LG Aims At India’s B2B Segment With A Hope Of Rs 2,000-Crore Business

LG is reportedly aiming to gain an Rs 2,000-crore business in the business-to-business segment in the Indian market in 2019.  As such, there will be a 30-percent increase in its YOY growth.

The B2B segment of the electronics manufacturer from South Korea in India has changed its name to Business Solutions. When it comes to the total turnover of the company, this segment is now occupying about 10 percent.

The growth potential of Business Solutions can be obviously seen via two major segments, including air and display solutions, based on the huge number of government buyers like Indian Railways.

In an interview with PTI, Hemendu Sinha, known as the Vice President and  Head of Business Solutions of LG India, revealed that:

Accordingly, the market of Business Solutions is showing more positive signals than the company’s other segments.

Sinha also further said LG hoped to expand and develop its B2B segment. The company will continue boosting its ability in the management in a bid to bring the more promising numbers.

The Vice President noted that the government has spent much money on developing public spaces, as well as citizen services. The purchases from the government have occupied nearly 30 percent of its total sales.

When referring to the impact level the B2B business has faced due to the current drop into the Business-To-Customer (B2C) market, Sinha stated that the company hasn’t been affected in some certain aspects.

There has been a 10-percent decline in TV sales in the Indian market in 2019. Even in the Cricket World Cup, LG couldn’t improve the sad numbers.

On August 28, LG Electronics in India launched a series of new products with a hope to boost its development concerning display solutions in the Busines-To-Business segment. They consist of transparent OLED, outdoor display, interactive digital boards, and a 130-inch All-in-one LED screen.