LG to invest Rs 1,000 crore in India for R&D, to manufacture smartphones here

By June 22nd, 2015 AT 7:13 PM

LG recently launched the G4 Dual in India for Rs 51,000 and the Korean OEM has some big plans for the Indian market in future. The company is trying to expand its market share in the country and is even considering manufacturing phones in the country. It will start the smartphone production in the country once it has a 10 percent market share here.

LG G4

LG plans on doubling its market share by December 2015 and the year will further see an investment of Rs 1,000 crore from the company for Research and Development and Marketing. Soon Kwon, Managing director, LG India, has stated that the mobile sales account for roughly 10 percent of the company’s total revenue here and the company is trying to increase the number 15 percent.

The top gun further stated that they are aiming to sell 1 lakh units of the LG G4 in the next three months. LG currently manufactures refrigerators and air conditioners in the country and hasn’t divulged any details regarding where the smartphone manufacturing unit would be setup.

LG will launch about 20 new handsets in the country to help it increase its footprint across various segments. India is one of the fastest growing smartphone markets and LG wants a share of this pie. Let us see what fruit its efforts bear in the longer run.

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