Category: Consumer Durable Equipment
LG, the consumer electronics major is planning to increase its R&D base from 3000 engineers to 5000 engineers and plans to launch challenging innovations. It plans an internet enabled TV, health based refrigerators and other smart gadgets. These will also be built with 10% reduction in cost. The company is also setting up a new manufacturing facility in Chennai with an investment of Rs. 15000 million. With the expanded R&D base, LG will also look to export its products from India to South Africa, West Asia and even South Korea.