Competition in the smart phone category seems to be cut throat. After Nokia and Samsung, LG has aggressively plunged into the market. The company has decided to launch six new handsets in category of smart phones. All the new hand sets belong to 'Optimus' series viz Black, Me, 2X, Pad, Star and Seven. These models will hit the market one by one by end of June 2011 . The price range of these mobile handsets will be from Rs 8999 to Rs 32000.
Talking about this, Vishal Chpora, business head (mobile communications) said, "The smart phone market is very competitive. The high end phone market is rapidly shifting to smart phones. Also, as per the market trends, prices of these phones are affordable and so LG is planning to launch six new models by end of this June. Currently, portion of the smart phone market is very low. But it is there is phenomenal growth in this market and manufacturers are very aggressive in the year 2011. According to Chopra, LG has seven per cent share in the mobile handset market including GSM and CDMA category.
Chopra added that LG has a plan to manufacture these high end phones in Ranjangaon facility by next year and will set a separate line to manufacture these phones.
According to Chopra, in the mobile handset market, highest growth has been observed in the price range of Rs 10,000 plus category while the price range of handsets of Rs 2000 to Rs 4000 had seen slow growth. Generally, the smart phone price starts from Rs 12, 500 and onwards.
LG manufactures seven million handsets annually at their Ranjangaon facility in Pune. It has invested Rs 32 crore for the mobile handsets manufacturing facility. All the low and mid end handsets are manufactured in this plant. All the high end and smart phones are imported from South Korea.
This is India's first mobile phone manufacturing unit and also Asia's largest optical disc drive manufacturing plant. It has the capacity to manufacture GSM Phones, colour televisions, air conditioners, LCD TVs, washing machines, refrigerators and optical disc drives. From this facility, LG exports mobile handsets to the the countries like Malaysia and Singapore.
Source :http://www.business-standard.com/india/news/lg-to-introduce-six-new-smart-phones/426312/
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