LG Electronics India will double its offerings in the mobile segment and launch about 15 devices across price points next year as it focuses on increasing contribution of mobile sales to overall revenue. Also Read - iPhone selling in LG stores? Apple is apparently in talks for a new dealAlso Read - Samsung and LG confirm presence at in-person CES 2022
Currently, mobile sales contribute 7-8 percent to the overall revenues of the South Korean electronics major in India. As of now, the company sells around 13 models in the country. “This year, performance of our mobile business has been disappointing. We will launch around 15 mobile models next year. Also Read - Ola to offer free oxygen concentrators to the needy
“In three years time, my target is to make all our product categories to contribute equally in percentage terms to our total sales… bring mobile sales to similar level of consumer durables,” LG Electronics India Managing Director Ki Wan Kim told . LG India’s four products categories are mobiles, home entertainment, air conditioners and home appliances. When asked if the company will look at manufacturing in India, he said: “Right now, we don’t manufacture. We used to but we exited. If necessary, we will resume local production, it will depend on sales. Our future sales forecast should be stable to keep our factories operational.”
The company used to manufacture mobile phones at its two factories in Greater Noida and Pune. On new products, Kim said: “This year, we have done lot of ground work and conducted in-depth consumer research to launch differentiated products with unique features. We don’t pursue very low end phones. Our entry level phone will be priced at approximately Rs 10,000. We will launch products across all price points.” “We will launch new devices in the first quarter of next year,” he added.