How do I read this case study ? LG Electronics India's marketshare dropped in January 2005 -- for the first time since the company was set up in 1997. But managing director Kwang-Ro Kim isn't worried.
"The dealers must have met their targets in December itself, so they took it easy in January," he explains.
Were it any other company, the managing director's insouciance would appear to border on foolhardiness. But this is LG, a company that can afford to take it easy.
Even after the blip in sales in January -- LG's marketshare in refrigerators fell fractionally from 28.6 per cent the previous month to 28.1 per cent -- the Korean consumer electronics brand is still the preferred white goods brand in India -- across categories and sub-categories.
Whether it is refrigerators, air conditioners, washing machines or colour televisions -- LG's dominance over the white goods market is complete (see chart).
That's pretty decent going for a company whose first experience in the Indian market was nothing short of disastrous. In its earlier avatar, the Korean company came to India as Lucky