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LG India sees 10-fold jump in GSM handset biz
By siliconindia
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Thursday, 13 May 2004, 19:30 IST
NEW DELHI: LG Electronics India is eyeing a 10-fold jump in revenues from the GSM handset business to Rs 3,000 crore over the next three years even though the company has no immediate plans to manufacture handsets in the country.
"We introduced GSM handsets in October last year in the Indian market and expect to clock revenues of Rs 300 crore this year. With the phenomenal growth in the segment, we expect the revenues to rise 10-fold to Rs 2,500-3,000 crore by 2007," LG Electronics India marketing head Anil Arora told PTI.
He said the mobile handset market was witnessing a rapid growth as more and more people shifted to wireless communication with falling rentals and affordable handsets.
The company, which markets six GSM models in the country, currently imports them from Korea.
Asked whether it planned to manufacture them in India with the rapid growth in the market, LG Electronics India chief Kwang-Ro Kim said there were no such plans currently.
"We are considering it as a future option but currently there is no such plan. We are waiting for a firm policy direction from the Government before taking any such decision," Kim added.
The company's current GSM portfolio includes the G1500 blue-light phone dubbed 'Shine', available for about Rs 5995.