Financial Daily from THE HINDU group of publications
Tuesday, May 11, 2004
LG sees 3 lakh GSM handset sales this year
Ambar Singh Roy
Kolkata , May 10
LG Electronics India is hopeful of selling three lakh GSM handsets in 2004.
This will translate into revenue of Rs 270-300 crore, according to Mr Kwang-Ro Kim, Managing Director.
Speaking to newspersons on a visit to the company's manufacturing facility at Greater Noida recently, Mr Kim said that the total number of mobile phone connections in India in 2004 had been pegged at 50 million.
CDMA handsets manufactured by the company are already being sold in alliance with the Reliance group.
LG Electronics India is hopeful of selling 10 lakh and 20 lakh GSM handsets in 2005 and 2006, respectively.
Revenue from sale of GSM handsets in 2005 and 2006 has been pegged at Rs 650 crore and Rs 1,200 crore, respectively.
Sale of LG GSM handsets would be retail-driven. According to Mr Kim, tie-ups would be forged with mobile service providers with a view to pushing handset sales.
Currently, six GSM handset models, including five colour models, are on offer. Of these, one is a camera phone.
By end-July 2004, an additional six new models - including two camera phones - would be launched in the market.
With a view to acquiring its targeted share of the GSM handsets pie in the country, LG Electronics India is looking at developing local languages on handsets.
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