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May 28, 2001
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Money > Reuters > Report May 28, 2001 |
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LG Electronics India starts assembling PC monitorsLG Electronics India, a wholly owned subsidiary of South Korea's LG Electronics, said on Monday it has started assembling personal computer monitors in India and aims for a 35 per cent market share by 2002. The firm, which makes consumer electronics and home appliances, said it has invested $10 million to set up a 350,000 unit capacity PC assembly plant in Greater Noida near New Delhi. "The company has targeted sales of 500,000 PC monitors this year and hopes to achieve an annual turnover of Rs 5 billion ($106 million) from the segment," it said in a statement. LG said it will focus on assembling 15-inch and 17-inch flat monitors, which are the fastest growing segments in the monitor industry. It also said it was considering launching its PC notebooks in India. LG India's managing director Kwang-Ro Kim said last week his company planned to invest $100 million in India by 2003 and could make an initial public offering of shares in October if market conditions were favourable.
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