LG to expand its market share in India
LG could see India as a potentially larger and more lucrative market if the South Korean company ever reaches a 10 percent market share in smartphone sales in that region. According to LG India Managing Director Soon Kwon, LG currently holds less than 5 percent of the smartphone market in India.
Reports suggest that LG will pour roughly 10 billion Rupees (or about 140 million Euros) in R&D and marketing in India to boost market share. Of course, the manufacturer must compete against Asus, Motorola, and Xiaomi, all of which are big names in the country. Indian telecom providers such as Intex, Karbonn, Lava, and Micromax also frequently market cheap smartphones made in China to under-cut sales of more expensive devices. For example, Micromax has partnered with Chinese manufacturer Tinno Mobile Technology Corp. in the past to offer inexpensive smartphones.
Currently, LG is selling eight different 4G smartphone models in India. This will expand to 20 models by the end of this year. The manufacturing is also expecting to sell at least 100,000 G4 units with dual SIM 4G support in the next three months.