LG to make smartphones in India if it achieves growth
Advertisement
Advertisement
South Korean handset maker The company also plans to invest Rs 1,000 crore in 2015 on research and development (R&D) and
"I reckon G4 is one of the best smartphones introduced in India lately. Leveraging this, my aim is to double our market share and increase the contribution of the mobile business to 15% towards our overall revenue," Soon Kwon told the financial daily.
Complimentary Tech Event
Transform talent with learning that works
Capability development is critical for businesses who want to push the envelope of innovation.Discover how business leaders are strategizing around building talent capabilities and empowering employee transformation.Know More
The company managing director further said: "Once we hit the 10% market share (in cellphones), manufacturing will eventually follow."
Kwon didn't share more details on LG's handset manufacturing plans.
Advertisement
The company currently has a market share just under 5%, as per market research firm
The South Korean company has two manufacturing units in the country that produce all its white goods, including refrigerators and ACs.
LG joins a host of overseas handset makers including Xiaomi, Motorola and Asus, apart from homebred ones such as Micromax, Lava, Intex and Karbonn, that are examining local manufacturing plans.
LG will aggressively expand its smartphone range with 20 new devices across various price segments by the end of December 2015. It currently offers eight 4G smartphones, which Kwon said was the most by a single company in the Indian market.
On Friday, LG has come up with its dual-SIM flagship
Advertisement
Kwon said the company aims to sell 1 lakh G4s in the next three months. "Indian R&D contributed significantly towards development of this device. It's the first premium phone with dual 4G SIM support," he said.
(Image: Reuters)
Advertisement
- US buys 81 Soviet-era combat aircraft from Russia's ally costing on average less than $20,000 each, report says
- 2 states where home prices are falling because there are too many houses and not enough buyers
- A couple accidentally shipped their cat in an Amazon return package. It arrived safely 6 days later, hundreds of miles away.
- Why did a NASA spacecraft suddenly start talking gibberish after more than 45 years of operation? What fixed it?
- ICICI Bank shares climb nearly 5% after Q4 earnings; mcap soars by ₹36,555.4 crore
- Markets rebound sharply on buying in bank stocks firm global trends
- Bengaluru's rental income highest in Q1-2024, Mumbai next: Anarock report
- Rupee falls 10 paise to settle at 83.48 against US dollar