LG Electronics India Pvt. Ltd. announced its foray into the SMB segment for office solutions.

LG says that the addressable market for the SMB segment in India is over 35 million with 70% of these preferring to have a one-stop buying for office equipments. The company has lined up Rs 200 crore investment over the next three years for this foray. It is aiming to capture 10% market of the $ 400 million opportunity from the SMB segment for office solutions.

The product line will comprise of electronics, appliances and computing solutions such as Network Monitors, Digital signage, Projectors, Surveillance security, water purifiers, air conditioners, refrigerators & microwave ovens etc.

“With the launch of LG SMB Solutions, we aim to support the Indian B2B segment with our collective offering. We are confident that our Technology strength backed with market insight and research will enable us to offer SMB specific and vertical Specific products, creating an effective business environment for SMBs in India. The single source buying & service support will enhance the comfort of Indian SMB customers,” said Mr. M. B. Shin, Managing Director, LG Electronics India Pvt. Ltd.

“India market plays a significant role in the global map for LG. The Business Solutions Products have contributed positively in the overall turnover of the company. We have witnessed tremendous growth in the year 2009. The Business Solutions division of LG India has generated revenue of 170M$ in Y2009 with overall growth of 10 per cent and No.1 Market Share on Monitors. Our India division has shown immense opportunity for growth of SMBs as the country provides a unique business environment for them. We are positive that our basket of products offered will set new standards in enhancing the productivity of SMBs,” said Mr. Paul Kim, Head of Business Solutions GTM Team, LG Electronics Pvt. Ltd, South Korea.

Adding to this, Mr. R. Manikandan, Business Group Marketing Head, Business Solutions, LG Electronics Indian Pvt. Ltd. said, “LG Business Solutions products find right fitment in the SMB segment such as Network Monitors, Surveillance Security & Commercial Displays. LG Network Monitors work on PC Virtualisation principle enabling one PC to be shared by up to 11 Users. Integrating the Employee welfare products such as MWO, Refrigerators & Air conditioners / Purifiers etc, we are in a position to offer single source buying to SMBs for all their office needs.” said Mr. R. Manikandan, Business Group Marketing Head, Business Solutions, LG Electronics Indian Pvt. Ltd.