MAM
LG launches new flat screen TV models in India
BANGALORE: With a view to retain and even grow their position, LG Electronics India (LGEIL) today announced launch of seven different models in the Flat screen segment covering LCD, Plasma and PDP at Bangalore.
Currently the world’s largest seamless Plasma TV with a 71″ screen and a price tag of an even Rs.3 million was also showcased along with India’s first wireless LCD TV at 15″ and priced at Rs. 99,000.
The other products launched were 15″, 20″, 23″, 26″, 37″ and 47″ LCD TV range, and the 40″ and 60″ PDP TV range. Improved picture quality and picture quality control along with improved audio are some of the features of most of the newly launched products, states an official release.
The 71″ PDP is the first of its kind Seamless Single module Plasma Screen to be launched in the Indian consumer electronics market. This 71″ Plasma TV is equipped with XD engine to deliver unmatched visual brilliance through its high-resolution screen format of 1920*1080 pixels. This Product is specially designed for the niche market.
The Wireless LCD television has a wireless connectivity of up to 50 meters, and a battery life of two hours. The screen is wirelessly connected to a transmitter box housed within 50 meters of the TV that sends waves to the portable screen. The LG Wireless TV is targeted at the tech savvy Indian consumer, the release adds.
LG Electronics, president South West Asia and LGEIL MD K R Kim said, “With the launch of these hi-end display products, LGEIL has now become the only consumer electronics company to offer a complete portfolio of display solutions, from the smallest 15″ Inch portable television to the largest display available in the Indian market, spread across price point of Rs 39,000 to Rs 3 million.”
LG plans to capture 50 per cent or 10,000 numbers by the end of 2005 and sell at least 20,000 in 2006 to retain this percentage of the Indian market that LG expects to double to 40,000 during this period. The growth drivers according to LGEIL product group head-NDPs, Prasanna Raghavan would be entry of the competition, demand increase because of improved technology of the offered products and lowered prices, which would be inevitable globally after Christmas during the first quarter of 2006 when stocks would have to refurbished.
Creative for the flat screen is handled by Lintas, while Group M handles the media business. Initially promotional spends will be Rs.40 million for the new offerings and depending upon the outcome, additional spends would be considered after the end of the campaign in October revealed Raghavan.
The campaign includes print and outdoor media along with TVCs which are being planned. O&M and McCann handle the creatives for the other products in the LG stable.
Brands
Safex Group appoints Richa Malhotra as group chief financial officer
Former Standard Chartered executive to steer finance
NEW DELHI: Safex Chemicals has appointed Richa Malhotra as group chief financial officer, strengthening its leadership team as the company prepares for the next phase of expansion in specialty chemicals and global agrochemicals.
In her new role, Malhotra will lead the group’s financial strategy, capital architecture and governance framework as Safex scales operations across multiple verticals including branded formulations, specialty chemicals and contract manufacturing.
A chartered accountant and graduate of Shri Ram College of Commerce, University of Delhi, Malhotra brings more than two decades of experience in business finance, strategic planning, corporate banking and client management.
Before joining Safex, she served as executive director, financial markets at Standard Chartered, where she led teams across India and Sri Lanka and worked closely with large corporates, global subsidiaries and commercial banking clients. Her expertise includes capital structuring, treasury operations, risk management and financial markets led financing solutions.
Safex Group promoter director and joint managing director Piyush Jindal, said the appointment comes at a pivotal time for the company. “Safex stands at an inflection point as we build an integrated platform across branded formulations, specialty chemicals and contract manufacturing. Richa’s experience across global financial institutions will strengthen our financial discipline and help unlock value across the group,” he said.
Malhotra said she was looking forward to contributing to the company’s next chapter of growth. “Safex has built a strong reputation over 35 years with its focus on integrity, innovation and agricultural insight. I am excited to be part of the organisation as it expands its footprint in India and global markets,” she said.
The appointment comes as Safex continues to strengthen its financial foundations and scale operations internationally, positioning itself for future growth milestones.
