10/9/13

Korea's competing Chaebols: How Samsung and LG are finding their way in India - The Economic Times
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0 Korea'scompetingChaebols:How SamsungandLGarefindingtheirway inIndia

ByRaviBalakrishnan,MoinakMitra&AmitBapna,ETBureau|9Oct,2013,10.01AMIST
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BuildingInfrafortheCityofDreams

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Callitataleoftwostrategies.Korean chaebolsSamsungandLGwagedfurious battlesagainsteachotherandtherestof

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theIndianconsumerdurablesindustrya decadeago.Today,LGclaimsleadership, butthat'snotenough.Itwantsabiggerslice ofthepremiummarket.Samsungshotup thesalesandperceptualchartswitha recordrunfromitsmobiledivision.Itisnow

BothLGandSamsungclaimtheyarejustasaggressiveas alwaysbutarejustshowingitdifferently.

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WiththelaunchoftheG2,LGmadeitsbelatedentryintothestratosphericpremiumrange ofmobilehandsets.Inamarketwhereconsumersarenotoriouslyhardtoimpress,the phonehassomeuniquebellsandwhistlestojustifyitsRs40,000pluspricetag.LG India'smanagingdirectorSoonKwonhopessuchproductswillbeifnotthenorm,atleast lessofanexception.Anditbetterhappensoonerthanlatergivenhisambitiontomakethe IndianoperationsamongLG'sTop3businessesglobally,by2015. LGcurrentlyclaimsa30%marketshareforitselfintheconsumerdurablesspace. AccordingtoGfkfiguressourcedfromtheindustryforAugust2013,itssharefor microwavesis39%,washingmachinesis38%,refrigeratorsis37%,TVsareat25%and airconditionersat23%.Andyet,thecompanyisinthethroesofastruggle.Fortoolong,it hasbeenperceivedasamidpricedmiddleclassorientedbrandandforthelastfewyears hasbeentryingtobecomeamoresignificantforceinthelucrativepremiumsegment.

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Korea's competing Chaebols: How Samsung and LG are finding their way in India - The Economic Times

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