Financial Daily from THE HINDU group of publications
Friday, Mar 25, 2005
Financial Daily from THE HINDU group of publications Friday, Mar 25, 2005 |
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Marketing
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New Products & Services Variety - Convergence Movies, TV, music all at a time: LG `MyHomNet' to enable it Our Bureau
Mr K.R. Kim, President, South West Asia, LG Electronics, and Managing Director, LG Electronics India Pvt Ltd, at the launch of `MyHomNet' in the Capital on Thursday. — Kamal Narang
New Delhi , March 24 LG Electronics India Ltd plans to capture 10 per cent of the high-end display devices market this year with its integrated home entertainment system, which allows consumers to simultaneously watch movies, live TV, browse through digital photos or listen to music in different rooms of the house. The home entertainment solution, MyHomNet, along with a Plasma TV, liquid crystal display (LCD) monitor, Flat TV and home theatre system blends IT with consumer electronic devices, with the main server acting as a multi-tasking PC. "There is an upcoming need within a family to watch various applications at the same time in different rooms like watching news, playing video games etc. All these applications can now be connected by a hub that interacts with up to four electronic systems," the LG President, South West Asia, Mr K.R. Kim, said at a press conference here. "Currently, the market for high-end display devices stands at 40,000 units annually. We would like to tap at least 10 per cent of this segment in 2005," he said. The high-end display devices market comprises projectors, LCDs and Plasma TVs. `MyHomNet' works on three different configurations and the solutions price range from Rs 1 lakh to Rs 3.5 lakh. Meanwhile, the company today also indicated that it was considering the manufacture of computers in the country and eyeing Rs 1,100 crore revenue from its IT business in 2005, up 70 per cent over last year. "The proposal to manufacture computers and notebooks in India is under nascent stages of discussion. The final decision will depend on two factors -- cost advantages and economies of scale," an official said.
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