LG starts smartphone manufacturing in India; to make 1million units
New Delhi: Reiterating its commitment to the Make in India initiative, South Korean electronics major LG on April 14 launched two locally-made smartphones and targets to manufacture 1 million phones in India. The company will be manufacturing phones at its Noida facility in partnership with GDN Enterprises.
The devices, which are priced at Rs 9,500 and Rs 13,500, were launched by Telecom Minister Ravi Shankar Prasad on April 14. LG is the latest entrant to start manufacturing of phones in the country, which has launched 'Make in India' initiative. Several device makers, including Micromax, Lava, Gionee, OnePlus and Xiaomi, have started assembling their devices in the country.
India is one of the fastest growing smartphone markets globally and device makers are keen to set up manufacturing units here to cater to the burgeoning demand. "We want to tap the huge potential for smartphones in the country and the K-series will be the first ones to be manufactured in India," LG Electronics India Managing Director Kim Ki-Wan said here.
He added that the company is optimistic over the new models to drive its growth in the smartphone segment in India. Prasad said it was an occasion of personal satisfaction for him to see companies setting up base in India for electronics manufacturing.
