Chennai:  At a time when Samsung and LG, the two Korean consumer durable brands dominate the Indian market, the relatively unknown Korean brand Hyundai Electronics is trying to make its presence felt with a slew of launches.

Hyundai Electronics, a division of Videocon Industries Limited, will shortly launch new LCD TV models along with a couple of flat TV models.

"We will launch three LCD and flat TVs," says Eric Braganza, chief operating officer, Hyundai Electronics.

Even though the LCD TVs contribute just 3 per cent of the total TV sales in India, the segment is growing fast.

"The future is LCD TV. The revenues are higher in LCDs than conventional TVs. The plasma TV segment is a dying one," he emphasizes.

As to the pricing strategy for LCDs, he says it will be lower than LG and Samsung but higher than other brands in the market.

The 32 inch and 26 inch LCD models will be priced at Rs39,990 and Rs29,990 respectively.

Braganza hopes to sell around 2.45 lakh TVs this year up from 2.10 lakh units sold last year. "The target for the next year is 4 lakh pieces."

The division is also planning to launch four new DVD models next year.

Unlike the two other Korean brands, the Hyundai brand of consumer durables are not well known in the market and continue to be under the `push' category.

According to Braganza the budgeted brand spend for the current year is Rs11 crore, rising to Rs17 crore next year.

According to him the division would close this fiscal with a revenue of Rs250 crore and its targeting a top line of Rs350 crore next year.