LG Electronics targeting Indian Mobile Market

LG Electronics targeting Indian Mobile Market

LG Electronics has announced their plans to expand into the Indian mobile market in a big way as they aim for a 300% growth this year. Most of their products would be targeting the GSM mobile market this year. The aim is to generate business of around Rs 600 crores on the back of new model launches.

In addition, LG Electronics is also planning to expand their distribution network to cater to the ever-growing mobile users in the Indian market. LG Product Group Head (GSM) H S Bhatia said in a statement on their plans: “In 2005 we sold close to 4.5 lakh mobile phones and in 2006 our target is 1.2 million. LG is targeting the mobile handset business to contribute Rs 600 crores to the company’s total revenues of Rs 9,000 crores.”

LG is also expecting that their mobile business in India would contribute at least around six per cent of its overall India revenues in 2006 as compared to three per cent last year. They have also set themselves the target of becoming the third biggest mobile player in the market. Currently they are lying on the fifth position with Nokia dominating the Indian market.

Bhatia added: “The GSM business is undoubtedly going to be the biggest growth driver in 2006. This year we would clearly focus on providing a lot of value additions to upgrade existing basic and mid-end consumer.”