Kapila, who took over charge from Rajeev Karwal last week, said the company would strive to achieve at least 50 per cent growth next year. LG Electronics is expected to close the calender year with over Rs 1,000 crorein turnover, as against Rs 480 crore generated last year.

"We want to become the highest turnover brand by year 2001 in the consumer electronics business and thereby a market leader," Kapila said. He claimed that LG is currently at the number two position, after BPL, in terms of turnover generated by any one brand. Companies such as Videocon International generate larger turnover with combined strength of several brands such as Sansui, Akai, Kenwood, Kenstar and Toshiba, besides the flagship brand.

Besides stepping up sales, the company would continue with its focus on enhancing perceived value of the brand as also increasing its visibility. To cite an example, Kapila said, Sampoorna colour televisions, a range introduced for making forays into the rural markets, would be upgraded to offer value at a particular price point. Sampoorna range contributes about 25 per cent of volumes sales of LG colour televisions, though the premium Golden-Eye series account for 40 per cent of the sales in rural markets.

Meanwhile, LG Electronics has finalised a $50 million expansion to be implented next year. This would include $20 million investment in a greenfield frost free refrigerator manufacturing facility, besides doubling of capacity for manufacturing other products. The colour television capacity would be steppped up from 4 lakh to 8 lakh units per annum, washing machine production from 2 lakh units to 4 lakh, airconditioners to 2 lakh units and microwave ovens to one lakh units.