LG Eyes 10 Percent Market Share In Mobile Handset (18-Feb-2010)
LG India, the mobile handset maker, is eyeing to double its market share in cell phone segment to 10% in order to achieve Rs 3,000 crore revenue.
The company is planning to launch 40 handsets from entry level to smart phones in order to give competition to its competitors like Nokia and Samsung.
Mobile Communications Business head Sudhin Mathur said that the company is looking forward to increase its current market share of 5% to 10% and is also eyeing on revenue to triple from Rs1, 000 crore in 2009 to Rs 3,000 crore in 2010. This increase in revenue will be mostly achieved by selling GSM and CDMA handsets.
To be able achieve the target, the Korean firm has launched a three-pronged strategy, said Mathur, adding that the company planned to launch 40 models in 2010 from Rs 1,200-Rs 40,000 range - entry level to smart phones.
This include 10 smartphones - six phones based on Android platform and four on Windows system
He further said the company will have to face Rs300 crore expenses in the year to strengthen the retail and distribution business, roping in new brand ambassadors and launching models besides huge multimedia campaigns for our phones.
LG India is targeting the youth in a big way and for this it has for the first time appointed brand ambassadors. The bollywood stars like John Abraham, Genelia D Souza and Abhay Deol will be the face of LG Mobiles.
LG India, which is in severe competition with Nokia and Samsung, is looking to up its position in the Indian market, which Mathur says is currently of 100 million units in size.
Meanwhile, LG Electronics looks set to be the second brand to join the high-octane touchscreen party in India after Samsung. The company announced a significant revamp of its product line-up as well as marketing and distribution, to treble its sales in the country, where it has just 6% of the market. LG eyes 10% market share in mobile handset
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