Singapore: Eyeing to double its market share to 11% in the fast growing GSM mobile telephony, world’s third largest mobile phone maker LG Electronics on Tuesday said it will launch 50 handsets by the end of 2009 in the Indian market.
“The number of product line-up has doubled as compared to 2008. We plan to launch 50 handsets by the end of December and aim to keep our market share over 11% there (India),” said Bo H Choi, head (Asia Pacific Region), Mobile Communication Company of LG Electronics.
At present, the South Korean firm has a 5.25% in GSM segment while the company enjoys nearly 50% market share in the CDMA space.
Choi was speaking after LG’s launch of three new smart phones -- Crystal, GM 730 and Viewty Smart -- at telecommunications conference CommunicAsia 2009.
He pointed out the company would be eyeing India as one of the important investment destinations since the demand from developed economies are witnessing a saturation.
In terms of global sales, LG is the third largest behind Nokia and Samsung. The South Korean entity is ahead of Motorola and Sony Ericsson.
Noting that demand for mobile phones are rising in India, Choi said, “We would be doing India-specific product planning and the design, colour and finishing would also depend on the choice of Indian customers.”
LG is also planning to increase the production capacity at its manufacturing plant at Pune. The handsets manufactured at the facility are exported to the Middle East, African and Asian markets.
At present, the Pune plant produces 500,000 units of handsets.