Indian economy is growing and the Indian market is expanding. So, for foreign companies, India is becoming an ever more lucrative market. Realizing it, LG has decided to invest more money in India. LG is going to mainly use the extra investment for increasing its capacity of mobile phone production. LG is bringing money for cell phone because this market is growing very fast. Times of India reported:
“LG Electronics, the South Korean electronics giant, has planned a Rs 900 crore ($200 million) additional investment in India over the next four years to ramp up its GSM handset manufacturing facility at its Pune plant.
The South Korean chaebol is also looking at starting production of mobile handsets compatible with the next generation of telecom service standards, expected to be launched in India sometime next year.
LG would also ramp up its research and development (R&D) facility in India, currently located in Delhi, top company officials said.”
I must say that I am impressed with the plan of LG officials. They have realized the market opportunity in India at the right time. The only thing I like that LG does in India is to make India as an exporting hub.
» LG to Export More Mobile Phones from India from IndianRaj
India is a very attractive place for mobile phone companies. Indian mobile phone market is growing rapidly and it has still a lot of growth for the next few years. LG is now of the top 5 mobile phone makers... [Read More]
Tracked on: June 22, 2008 6:50 AM | Permalink to Trackback