The decision to this effect stems from the projection that low-end cassette players would disappear from the face of the market in another two years, LGEIL vice-president (sales and marketing) Rajeev Karwal said here.

"We have decided to concentrate only on cutting edge technology and look at the top-end segment of the audio market. The first product as part of this foray would hit the shelf in a few months," he added.

An expert team from the parent company -- LG Electronics of South Korea -- would be visting India on July 21-22 to finalise the modalities of the foray as well as the products to be introduced under the venture.

The company has already zeroed in on `MP-3', a new generation music system that can download music from the Internet, to be the launch product for its foray into audiosystems.

"This instrument can be connected to a computer and can easily download music, which can later be heard on the move or anywhere." Though the price tag for the product is yet to be finalised, "it would be expensive."

Regarding the decision not to venture into the low-end mass segment of audio systems, Karwal said, "to address that segment, we need to be present with a whole range of products, beginning from Rs 2,000 to Rs 2 lakh. Otherwise, it is not lucrative to be a player in that market."

Besides, the company would be introducing a host of other products during the current year to substantiate its existing portfolio. These include the flatron range of colour televisions, plasma tvs, internet tv, three new microwave models etc.

Meanwhile, fuelled by a robust demand for its white and brown good products, LG Electronics India Ltd (LGEIL) has recorded a Rs 500 crore turnover and Rs 6 crore profit during the first six months of 1999 calender year.

Besides, the company seems poised to cross theRs 900 crore turnover target set for the year which is likely to rest in the range of Rs 15-20 crore, industry sources said.

According to Karwal, unauduited results of the company reveal that the first half turnover of Rs 500 crore is 150 per cent higher than the figure of Rs 200 crore during the same period last year.

Profits have recorded a three-fold increase from Rs 2 crore to Rs 6 crore, he added. During the full year of 1998, LGEIL's turnover stood at Rs 480 crore.

A major chunk of the sales during the current year's first half poured in during the last two months of the half year (May-June) due to the cricket World Cup fever. The two months alone accounted for Rs 201 crore turnover.

The company ranked fifth in colour television (CTV) sales during the period, having sold 180,000 units in a two million units market.