LG Electronics Targets Double Revenue in Global South by 2030

Seoul, Jun 11 (PTI) South Korean consumer electronics major LG plans to double combined revenue from its three high-potential global south markets, including India, by 2030 for which it is aggressively accelerating momentum, according to company CEO Lyu Jae-cheol.

The company sees significant potential in India supported by strong macroeconomic momentum, high brand preference and relatively low home appliance penetration in key categories such as refrigerators, washing machines, and air conditioners.

LG is also looking at expanding its AI product range in India and has integrated its manufacturing plants in the country into its global AI roadmap to support a broader rollout of AI-centric washing machines, refrigerators, air conditioners, and cooking systems in the market.

"India, alongside Saudi Arabia and Brazil, is at the absolute forefront of LG Electronics' long-term growth strategy. 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," Jae-cheol said.

In 2025, he said, "Our combined revenue from these regions reached KRW 6.2 trillion, delivering an exceptional growth rate of over 20 per cent compared to 2023 -- outperforming the company's overall global growth by more than double."

LG Electronics had posted a consolidated revenue of KRW 89.2 trillion in 2025.

Underlining the significance of the three markets, Jae-cheol said, "For LG, this hyper-growth in major emerging economies like India is not just about expanding our footprint; it is a strategic pivot to build a highly balanced, resilient regional portfolio that complements our established strongholds in Korea, North America, and Europe."

Under its 'Global South' strategy, LG aims to strengthen its product leadership through "winning tech" and improve cost competitiveness through co-manufacturing and supply chain optimisation.

Elaborating on the company's mid to long-term strategy, LG Electronics IR Communication Team Leader Aeron Kim said the company is looking to strengthen its core business comprising home appliances, eco, vehicle, and media and entertainment solutions.

To overcome headwinds created by the prevailing macro economic conditions in the company's advanced markets, the company will focus on creating new demand and growth regions like India and Brazil under the company's global south strategy, he added

"India is one of the core of the global south strategy," Kim noted.

Under the strategy, LG aims to strengthen its product leadership through "winning tech" and improve cost competitiveness through co-manufacturing and supply chain optimisation.

The company will also focus on selected growth areas, including B2B and platform, and key global south markets.

Elaborating on the India plans, Kim said, "We will be doubling our production capacity in India and with the excess capacity we are targeting to increase our exports rapidly from the current levels."


At present, exports account for 6-7 per cent of overall revenue of LG Electronics India serving markets across Asia and Africa. The company is focusing on a dual-market, dual-segment export model -- shipping high value, premium models, such as side by side refrigerators, top freezers of over 700 litre and front loading washing machines, to developed markets, while concurrently dispatching India designed "Essential Series" to emerging markets.

LG Electronics India has two manufacturing plants at Greater Noida in Uttar Pradesh and Pune in Maharashtra with combined installed capacity of 14.51 crore units annually.

It is setting up a third plant at Sri City in Andhra Pradesh which is expected to commence operations by 2026-end. The plant is slated to play an important role in the company's export strategy.

Kim further said LG is also looking to sell products manufactured in India to advanced countries like the US despite the current tariff situation which can be a hurdle.

"We think that once LG Electronics India reaches that level of competitiveness we can overcome the hurdle," he noted.

LG also intends to ramp up production of high-end products, such as four-door and French door refrigerators, in India where currently it mainly focuses on mid and low-end products manufacturing.

Kim, however, said the company's Indian factories will have to compete with LG's other global manufacturing locations for the export markets, which has so far been a challenging proposition.

Yet, he said things are changing and with the new capacity enhancement, modernised production systems and improved skills and knowhow the cost structure in India will be improved.

Asked if LG would take advantage of the FTAs that India has signed with the UK and the EU, he said the company will look at it.

LG is looking to further enhance local capabilities in India by securing top-talent and enhancing infrastructure R&D as part of its strategy to respond to the rising demand as the home appliances market in India reaches an inflection point.

It is also open to mergers and acquisitions and strategic partnerships with local companies to pursue growth opportunities in India, while also expanding into high-potential sectors such as HVAC (heating, ventilation, and air conditioning).

The company's India unit, which completed a successful public listing at the bourses last year, is also looking at expanding AI product range in the country.

"Today's Indian consumer is moving well beyond basic functionality; they are actively seeking intelligent, connected solutions that bring us closer to the ultimate vision of a 'Zero Labor Home' ecosystem," LG Electronics India Director, Home Solutions, Young Min Hwang said.

"We see momentum in this space and our premium products are experiencing rapid adoption, as families prioritise advanced, hyper-connected features that embrace AI," he added.

LG is building an AI Home ecosystem that is developed around AI-powered appliances and its ThinQ platform, further augmented by CLOiD home robot unveiled at the CES 2026.