LG Corporation is one of South Korea’s largest multinational conglomerates. The company was established in 1947 and expanded to India 24 years ago in 1997 as LG Electronics.
Currently, the company manufactures and sells a multitude of consumer electronics such as televisions, air conditioners, refrigerators, ovens and microwaves, smartphones and much more.
The company on the 28thand from April came out to say that they will now manufacture and sell inverter window air conditioners in India and will no longer import them. The company will set up factories in Noida, Uttar Pradesh.
LG plans to increase its share in the industry with its new line of products made in India. The company is set to fund a new manufacturing facility that will have the potential to create over 3,000,000 window air conditioners.
The company entered the country in 1997 and currently has a factory in Ranjangaon, Pune, where it mass-produces a host of consumer electronics including washing machines, air conditioning systems, LED TVs and more. .
The company has identified Window AC as a high demand product in India and is looking to capture the market by producing a large number of them as soon as possible. Many companies around the world are aiming to invest more in domestic production now that supply chains are broken due to the coronavirus pandemic and Russia’s invasion of Ukraine.
The VP of LG India said that people have always had a positive view of their products and now they are looking to innovate and lead the Indian air conditioning industry with the production of window air conditioners. double inverter while they manufacture these products in the country for the people.
He went on to say that when they start production of these units in the country, it will only strengthen the bond between the company and the people of India, which in turn will allow them to diversify and produce products. best quality electronics for the people of the nation.
The South Korean company setting up a factory in India will do wonders for the people of Uttar Pradesh as it will now provide a huge job opportunity for dozens of people across the city and state. This deal appears to benefit all parties involved, which in turn will help the economy grow and stay healthy.
Comments are closed.