LG forays into SMB segment

New Delhi: LG Electronics India has announced that it has forayed into a new territory of the SMB market in India. After successfully establishing itself as a player in home electronics, appliances and IT business solutions, LG has taken a step further by venturing into the unexplored $400 million SMB market. The SMB sector will witness the launch of an extensive range of office solutions innovatively developed by LG, India.
India is the second largest country in the world in terms of the number of SMBs totaling to 35 million. With more than 70 percent of the Indian SMBs preferring one-stop shop buying for all their office equipment, this sector provides immense opportunity and potential for growth. LGEIL plans to invest Rs 200 crore over the next three years in this initiative. The LG SMB solution is an attempt to provide a full range of electronics, appliances and computing solutions to SMB owners at 'one-stop'.

“We aim to support the Indian B2B segment, with the launch of the LG SMB solutions. We are confident that our technology strength backed with market insight and research will enable us to offer SMB specific and vertical specific products. The single source buying & service support will enhance the comfort of Indian SMB customers,” said M B Shin, MD, LG Electronics India.

“The Indian market plays a significant role in the global map for LG. We have witnessed tremendous growth in the year 2009. The Business Solutions division of LG India has generated revenue of $170 million in the year 2009 with an overall growth of 10 percent and #1 marketshare on monitors. Our India division has shown immense opportunity for growth of SMBs, as the country provides a unique business environment for them. We are positive that our basket of products offered will set new standards in enhancing the productivity of SMBs,” said Paul Kim, Head-Business Solutions, GTM Team, LG Electronics, South Korea.

Adding to this, R Manikandan, Business Group Marketing Head-Business Solutions, LG Electronics Indian Pvt. Ltd. said, “Our Business Solutions products find right fitment in the SMB segment such as network monitors, surveillance security & commercial displays. LG Network Monitors work on PC virtualization principle enabling one PCs to be shared by up to 11 users. Integrating the employee welfare products such as MWO, refrigerators & air conditioners/purifiers etc, we are in a position to offer single source buying to SMBs for all their office needs.”

The innovative range includes network monitors, digital signage, projectors, surveillance security, water purifiers, air conditioners, refrigerators & microwave ovens etc.

LG's Business Solutions has simplified various business processes by meeting diverse needs of consumers as well as partners. The LG SMB solutions is the easiest way to procure a full range of office equipment required for the business environment. The new business model is designed to offer resellers and distributors a new opportunity.