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LG Electronics Hires Snapdeal's Business Head

Update On :07 June 2016

LG Electronics Hires Snapdeal's Business Head

LG Electronics India has hired Saif Iqbal , Snapdeal's business head for electronics, to shape its ecommerce strategy by December, people aware of the development said.


India's largest white goods maker plans to launch televisions, white goods and smartphones exclusively for online sales so as to minimize conflict with brick-and-mortar retailing, they said. Till the time this article was published, LG Electronics India had not responded to ET's email query in this regard sent on Friday.


Two senior industry executives said LG is one of the last big consumer electronics brands in the country to adopt the online route. They said LG was wary of this since it did not want to antagonise the brick-and-mortar channel, but with online predatory discounting fizzling out and ecommerce accounting for almost 30 per cent of smartphone and 10 per cent of television sales, the company has decided to flesh out a full-fledged strategy.


LG plans to partner with leading ecommerce sites like Amazon, Snapdeal and Flipkart so that it can launch online exclusive models, control price and the service experience," said one of the executive cited earlier.


It also wants to float brand stores in these online marketplaces like the way Samsung has done. While there may be some products which will be sold both online and offline, the brand will ensure there are no arbitrary discounts.

News Source From : http://economictimes.indiatimes.com/industry/cons-products/electronics/lg-electronics-hires-saif-iqbal-snapdeal-employee-to-reshape-its-ecommerce-strategy/articleshow/52611379.cms

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