Hyderabad: Electronic Home Appliances major LG Electronic India Ltd (LGEIL) is planning to invest Rs600 crore in its Indian test laboratories this year.
The company will invest Rs600 crore in labs to test products that will be imported for the Indian market, and another Rs200 crore during the year in marketing, Moon B Shinh, managing director, LGEIL, told mediapersons here.
The company is also targeting cornering a 15% share of the Indian GSM mobile phone market by 2011, Shinh said.
He said the “mobile business is the main focus area for us and we are targeting a 15% share of the Indian GSM mobile phone market by 2011. The company is also planning to expand the mobile phone products from low end to touch generation models and will come out with 30 such models with longer battery back up.”
LG sold 10 million GSM and CDMA handsets in 2008, including 2.5 million GSM units. Company’s present market share of GSM is 4.6%, and we are targeting 15% in two years. The company also aims to double the sale of GSM sets from 2.5 million this year while maintaining the CDMA segment for another two years, he said.