LG to pump $105 M into Indian IT operations

By siliconindia staff writer   |   Monday, 18 October 2004, 07:00 Hrs
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KOLKATA: What does brand LG conjure? Probably consumer electronic products or home appliances — the primary business segment of LG in India. This, however, may soon change.

LG Electronics India has decided to re-invent itself as an IT products and mobile phone manufacturer in India by 2010. It is scaling up its manufacturing base as per this strategy and will invest about $105 million over the next five years. LG India has decided that by 2010, IT and mobile phones will account for about 60% of its turnover from 20% now.

“IT and communications are the two product segments that are now going to grow by leaps and bound in India. We will focus all our attention on these two product segments,” Mr KR Kim, managing director, LG India, said while talking to newspersons after the launch of the company’s festive period offer here on Thursday.

LG is now sprucing up its manufacturing facilities for these two product segments in India. “The newly commissioned Pune plant will start off with assembling of mobile phones by January 2005. We will now develop vendors to start full-fledged manufacturing of mobile handsets at Pune by the latter half of 2005,” Mr Kim added.

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