LG Electronics looks to double combined revenue from India, Brazil, and Saudi Arabia by 2030, says CEO Lyu Jae-cheol

LG Electronics is placing India at the centre of an ambitious growth strategy aimed at doubling the combined revenue from India, Brazil, and Saudi Arabia by 2030. The South Korean consumer durables giant is accelerating investments and focussing on portfolio expansion across the three high-potential 'Global South' markets, which have emerged as key pillars of its long-term growth agenda.

LG Electronics CEO Lyu Jae-cheol said, “India, alongside Saudi Arabia and Brazil, is at the absolute forefront of LG Electronics’ long-term growth strategy.” The three markets together generated revenue of 6.2 trillion Korean won (₹39,000 crore) in 2025, marking growth of more than 20% compared with 2023 and outpacing the company’s overall global growth rate by more than two times.

"As part of our vision to double combined revenue in these three markets by 2030, we are aggressively accelerating our momentum across these three high-potential Global South markets," said Jae-cheol.

For LG, the rapid expansion in emerging economies is more than about increasing market presence. “It is a strategic pivot to build a highly balanced and resilient regional portfolio that complements our established strongholds in Korea, North America, and Europe,” he said.

Even as global economic uncertainty and uneven demand recovery continue to weigh on several markets, India, Brazil, and Saudi Arabia have maintained strong momentum, supported by structural demand and large-scale development initiatives.

To capture this opportunity, LG is strengthening local capabilities through region-specific manufacturing, product development, and partnerships. India remains one of its most important growth markets, with leadership positions across major home appliance categories. The company believes significant headroom for expansion remains, with appliance penetration levels still hovering between 20% and 30%.

Reflecting on its localisation strategy, LG recently launched the India-exclusive Essential Series, designed around local lifestyles, climate conditions, and purchasing power. The range includes washing machines, air conditioners, and refrigerators targeted at the country’s growing young middle class.

The products incorporate features tailored to Indian consumers. Washing machines are designed to function effectively under low water pressure and hard-water conditions, while air conditioners are engineered to deliver stable cooling even in temperatures as high as 55° C. Refrigerators offer larger fresh-food storage spaces suited to vegetarian households and feature designs aligned with local preferences.

The company’s India business recently delivered its highest-ever quarterly operational revenue. LG Electronics India reported revenue of ₹8,054 crore in the March quarter of FY26, driven by a recovery in consumer demand and strong traction in premium categories such as large-screen televisions, French-door refrigerators, fully automatic washing machines, and five-star air conditioners.

Net profit, however, declined 8.2% year-on-year to ₹693 crore from ₹755 crore. The company said it remained focussed on cost discipline, localisation, and operational efficiency amid margin pressures.

LG Electronics India’s shares have declined nearly 8.9% over the past year, giving the company a market capitalisation of about ₹1.05 lakh crore.