South Korean handset maker LG Electronics plans to establish a local handset manufacturing unit in India once it achieves a market share of 10 per cent in the country?s mobile handset market.
According to market research firm GfK, LG currently commands market share under five per cent. Meanwhile, LG has set its eye on increasing its market share to 10 per cent by December end 2015 on the back of its recently launched smartphone – G4.
Once the company manages to gain a significant share in the Indian handset market, it plans to establish its own handset manufacturing facility in the country. In addition, it plans to invest Rs 10 billion in research and development (R&D) and marketing over the next few months.
Going forward, the company will make significant investments in R&D including talent acquisition, new product development and laboratories. LG already has more than 1,000 software engineers working at its R&D facility in Bengaluru.
