LG, a South Korean consumer electronics manufacturer is expecting a Rs. 2,000 crore business under its Business-to-business segment this year and it is also expecting to continue a 30 per cent year to year growth. The 2B segment of LG electronics in Indi is renamed as Business Solutions. The business solutions now contributes around 10 per cent to the company’s total turnover.
As per the records the Business solutions have achieved a huge growth because of the large government buyers such as Indian railways. The growth was potentially seen in two segments:
- Display segment
- Air segment
LG Electronics India Vice-President and Business Head (Business Solutions) Hemendu Sinha said that the company is expecting Rs 2,000 crore from this business this year. He also added that for this year and for many years coming, the company is looking at 30 per cent growth year-on-year and this is the approach that will be followed in rest upcoming years too. He explained that B2B market is evolving in India in a faster rate than any other segments and the company’s aim to is to grow and expand the B2B segment and a consistent effort from the side of management is done to improve the numbers. He also said that the ongoing slowdown into B2B panel market does not have any impact on the BB business of LG.
The brand introduced new products on Wednesday, which include 130 all-in-one LED screens, transparent OLED, interactive digital boards and new outdoor display just to strengthen its portfolio of display solutions in the Business to Business segment in India.