Industry News

LG starts to make country specific smartphones for India

India: LG Electronics, A South Korean company has started manufacturing smartphones and for the first time company is making country specific phones, especially for the Indian market. The plans are to get back its position by earning high growth in the country. The agreement for manufacturing the phones has been inked with GDN Enterprises, a part of New Delhi-based Optiemus Group. The manufacturing of two models has already been started for the trials and further planning to introduce more models.

Optiemus is currently manufacturing for HTC and Oppo and has signed an agreement with a leading contract manufacturer Wistron based in Taiwan and will set up a plant for producing these smartphone brands. Local manufacturing will help LG in gaining price edge as the taxes and duties will be down by more than 10%.

LG has been a leader in microwave, ovens, refrigerators and washing machines, is about to launch 6-7 models which are customized for Indian market to revive the smartphone business of the company. LG wants to focus on rebuilding its smartphone business, which still after several attempts failed to gain significant share in the market.

According to TechSci Research, LG’s sale of white goods was impacted due to poor quality of products but the company has recorded 12% growth in year 2014-15 on the other hand the plans of LG will hopefully boost the sale of smartphones as the company is well known for its superior products that are technologically brilliant, and this step will boost the company’s growth significantly.