On the occasion, Moon B Shin, managing director, LG Electronics India said, "2011 will be the acceleration phase for LG Mobiles, and all our plans, investments are aligned towards taking 12-15 per cent of market share in smartphone segment. We have set aside 350 crores as marketing investment for 2011. Our focus on smartphones would deliver the ultimate consumer experience. We are therefore pre embedding loads of applications, making phones ready to use with exposure to world of applications."
The company has identified mobile phones as a strategic growth engine category. It said it plans to increase the production capacity from 8 million to 15 million by next year at Pune plant. "We also have an ambitious target of 80 per cent revenue growth in mobile business by 2011," Shin added.
Vishal Chopra, business group head, mobile communications, LGEIL remarked, "We are looking at expanding the retail presence by 25,000 retails and 500 LG exclusive LG mobile gallery. Next year we plan to launch 55 new models, out of which 40 per cent will be smartphones and our marketing investments would also be aligned accordingly."
Source: LG Mobile India
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