LG Electronics India's Global Ambitions with Essential Series

LG Electronics India (LGEI) has set its sights on selling one million units of its Essential Series in the financial year 2027. The company revealed plans to export this range to 22 countries across Asia, the Middle East, and Africa by 2026, underscoring India's growing significance as a manufacturing and export hub for the firm.

Amid global supply chain disruptions due to geopolitical tensions, LGEI aims to mitigate rising input costs through cost optimization and increased localization, currently at 58%. "We handle these situations with cost optimization and better operational efficiencies," said Sanjay Chitkara, the Director and Co-Chief Sales and Marketing Officer.

As part of its growth strategy, the company is bolstering its product portfolio with new innovations while also investing significantly in its Sri City plant to meet future demand. "We aim to develop LG India as a global manufacturing hub," Chitkara added.

(With inputs from agencies.)