With the aim to double its target from 5 to 10 per cent in the smartphone segment, Korean electronics major lG will launch 20-30 phones in the next one and a half year period.
“We are expecting 10 per cent market share by the end of next year and we are reshaping our mobile business keeping that target in mind. We currently hold 5 per cent of market share,” lG India Managing Director Soon Kwon told The Pioneer. On revenues Kwon said: “By the end of this year, we are expecting our smartphone business to contribute Rs 750 crore to the overall revenue in India.”
“It contributes 5 to 6 per cent to global revenues,” Kwon said when asked about India contribution in its total revenue. On Telco partnership for 4G devices, he informed that the company is in discussions with 4G players in the country. “We can't share much at this point of time, but whenever the ecosystem comes alive, we will definitely be there.” Kwon explained.
On Thursday Company has launched new touch screen smartphone with quad-core processor 'lG Optimus G Pro', priced at Rs 42,500 - the highest priced phone from lG's stable for Indian market. With this launch, the company has entered into the high-end smartphone segment ranging around Rs 40,000, eyeing a slice of the share from competitors like BlackBerry, Samsung, Sony and Apple's iPhone.
The company announced investment of Rs 80 crore to push its sales.
“lG expects to sell 1 million smartphone this year. As a part of our strategy, we will be adding 100 to 150 retailers every month to expand our reach. At present, we sell through 1,600 top retailers which we expect to increase to over 3,000 retailers by end of this year,” he said.