LG India to invest Rs 1,000 crore in R&D, manufacturing unit

LG G4 Specifications

LG recently released the G4 Dual in India for Rs 51,000 and the Korean manufacturer is building up a bigger plan for the Indian market in future. The company is attempting to broaden its piece of the market share in the nation and is planning to setup a manufacturing unit in India. It will begin the smartphone manufacturing in the nation once it attain a 10 percent market share of the overall industry here.

LG anticipates multiplying its sales by December 2015 and the year will additionally see a investment of Rs 1,000 crore for the company’s Research, Development and Marketing. Kwon Managing director, LG India, has expressed that the mobile sales represent around 10 percent of the company’s aggregate income here and the company is attempting to expand the number 15 percent.

The top firearm further expressed that they are expecting to sell 1 lakh units of the LG G4 in the coming three months. LG at present fabricates refrigerators and air conditioners in the nation and hasn’t uncovered any insights with respect to where the smartphone manufacturing unit would be setup.

LG will release around 20 new handsets in the nation to attain its expected market share across different sections. India is one of the fastest developing smartphone markets and LG needs an share of this part. Let us a wait and watch how LG is expanding its foot print in the smartphone segment.

Indiatimes

 

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