LG Electronics targets 2x India-Brazil-Saudi revenue by 2030

Strategy shift: Global South moves to the forefront

LG Electronics has set a goal to double its combined revenue from India, Brazil and Saudi Arabia by 2030, positioning these markets as the anchor for its next phase of global growth. CEO Lyu Jae-cheol told journalists in Seoul that the three geographies are at the “absolute forefront” of the company’s long-term strategy. While the target is framed across three countries, LG’s leadership and executives repeatedly signalled that India sits at the centre of the plan. The company is looking to build a more balanced regional revenue mix that complements its established strongholds in Korea, North America and Europe.

The baseline: what the three markets delivered in 2025

LG said combined revenue from India, Saudi Arabia and Brazil reached KRW 6.2 trillion in 2025, up more than 20% from 2023. The company also said this growth rate was more than double its overall global growth rate over the same period. Using the rupee equivalent cited alongside this figure, the 2025 combined revenue works out to about ₹39,000 crore.

This base matters because it frames the scale of the 2030 ambition. Doubling the combined revenue implies LG is counting on sustained demand expansion in these markets, supported by more local production, region-specific products and market-tailored business models.

India’s role: first-time buyers plus replacement demand

LG’s India thesis rests on two demand streams it highlighted: a large pool of first-time appliance buyers and ongoing replacement demand. A senior company executive told ET Online that India was LG’s top market globally in home air-conditioners. The company also pointed to relatively low penetration across key appliance categories, citing appliance penetration of only 20% to 30%.

These factors create a longer runway for volume growth, especially as more households enter the appliance buying cycle. At the same time, premiumisation is becoming a visible trend in LG’s India performance, based on its recent product-category traction.

India business performance: record March quarter revenue

In its recently declared Q4 FY26 results, LG’s Indian subsidiary reported operational revenue of ₹8,054 crore for the March quarter. The company described this as its highest-ever quarterly operational revenue in India. It attributed the performance to recovery in consumer demand and stronger traction in premium categories.

LG specifically cited large-screen televisions, French-door refrigerators, fully automatic washing machines and five-star air conditioners as areas that supported the quarter. For investors and industry trackers, the data point is important because it shows India is contributing meaningful scale while LG is expanding its manufacturing footprint.

Localisation and portfolio: products designed for Indian conditions

LG has been pushing localisation beyond assembly into product design and positioning. It recently introduced an India-exclusive “LG Essential Series”, designed around local lifestyle patterns, climate conditions and purchasing power. The company said this lineup includes washing machines, air conditioners and refrigerators.

In market-specific examples, LG described washing machines designed to provide stable water supply even under low water pressure. It also flagged air conditioners designed to operate in temperatures up to 55 degrees Celsius, and refrigerators tailored to the needs of India’s large vegetarian population. The company’s stated goal is to grow share by offering products aligned with how consumers in the market use appliances.

Manufacturing: capacity expansion anchored in India

LG’s manufacturing presence in India already spans Greater Noida and Pune. A third facility is under construction in Sri City, Andhra Pradesh, and is expected to commence production by the end of 2026. The company has positioned the Sri City expansion as a way to add capacity as demand rises.

In addition to serving domestic demand, LG has also discussed the export potential of India-made products. One company executive said exports contribute about 6% to 7% of LG Electronics India’s total revenue, with India serving markets across Asia and Africa.

Brazil and Saudi Arabia: investments and market-specific channels

While India is central, LG has also outlined country-specific levers in Brazil and Saudi Arabia. In Brazil, the company said it will invest more than $100 million in the southern state of Parana to build a new production facility, with an operating target by the end of the year mentioned in its update. LG said the plant is expected to produce premium and regional products.

In Saudi Arabia, LG has pointed to expanded B2B and government-led opportunities as part of the growth playbook. Across all three markets, LG has emphasised local production, region-specific products and tailored business models as the common execution approach.

Key metrics and operational footprint

Market impact: what the plan signals for India’s consumer durables ecosystem

LG’s stated 2030 target reinforces how multinational appliance makers are reallocating management bandwidth and capital spending toward high-growth markets. The company is linking growth to localisation, which can deepen supplier ecosystems around large manufacturing clusters. The Sri City project and the existing Greater Noida and Pune facilities also underline that capacity is being built with demand growth in mind.

For India’s consumer durables market, LG’s focus on premium categories and market-specific features points to sharper segmentation. The emphasis on products adapted to local water pressure, climate conditions and usage patterns signals continued competition around differentiation rather than price alone.

Why this matters: balancing mature markets with emerging growth

LG’s management has framed the Global South strategy as a “strategic pivot” to build a more balanced and resilient regional portfolio alongside its established markets. The company is also using India’s scale and category leadership to support the broader three-market revenue ambition. With combined 2025 revenue of about ₹39,000 crore across India, Brazil and Saudi Arabia, the 2030 doubling target becomes a measurable yardstick for how well localisation, capacity and partnerships translate into sustained growth.

Conclusion

LG Electronics has put a clear 2030 marker on its expansion plans in India, Brazil and Saudi Arabia, with India positioned as the core market in the strategy. The company is backing the plan with localised products, added manufacturing capacity and country-specific routes to growth. The next milestones to watch, based on LG’s disclosures, include the start of production at the Sri City facility by end-2026 and progress on regional manufacturing investments and partnerships across the three markets.