In 1997, when Kwang Ro Kim, CEO of LG Electronics India, said his company would become India's largest consumer electronics company by 2005, no one knew taken seriously. It was the year that LG, the Korean chaebol, established its 100% subsidiary. The perception of the LG brand was much lower than that of Japanese giants such as Sony or National Panasonic. Then there were smart Indian players like BPL, Videocon and Onida who could give the Koreans a run for their money. Kim's grandiose vision was just a pipe dream, cynics would never tire of saying so. In three years flat, Kim has made skeptics eat kimchi. In his squeaky, trembling voice, Kim claims that LG will become the major player much earlier than 2005, in 2001. With a turnover of Rs 1,056 crore in 2000 (no other company in the industry has crossed the Rs 1,000 crore mark in so short time). time), LG is already India's second largest consumer electronics brand, second only to BPL which clocked a revenue of nearly Rs 1,800 crore last year. With a turnover close to Rs 1,000 crore, Videocon is in third place. Samsung, also Korean, is fourth with a revenue of Rs 850 crore. From here, LG expects to double its revenue to Rs 2,000 crore this year. By 2001, with a turnover exceeding Rs 3,000 crore, LG plans to dislodge BPL from the top spot. Kim's confidence stems from LG's success last year. As the attached graph shows, in four of the seven product categories in which it is present, LG is the market leader. In air conditioners it is second after Carrier, although it is number one in the retail segment. In two categories (color televisions and direct-cooled refrigerators), it is the fifth largest player. LG executives are confident of maintaining high growth in the future. "All the product categories in which we are present are growing at a rapid pace: color televisions are growing by 30%, microwave ovens by 50% and frost-free refrigerators by 25%. This is a good reason why we can be the number one one,” says Ajay Kapila, vice president (sales and marketing), LG Electronics India. The industry does not move beyond Kim and his men, although appreciation of their efforts is still slightly reserved. “The brand momentum is there, but organizationally it's a little thin,” says Philips senior vice president Rajeev Karwal, who was previously head of sales and marketing at LG.