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LG to invest Rs 100 crore to upgrade manufacturing plant
By siliconindia
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Monday, 29 January 2007, 18:30 IST
Kolkata: LG Electronics India (LGEIL) plans to invest Rs 100 crore on augmentation and up gradation of various capabilities in the current calendar year. Rs 33 crore from the Rs 100 crore proposed, will be invested in improving the manufacturing facility at Ranjangaon, Pune, says managing director of LGEIL, M.B. Shin.
Shin responded that since LGs foray in India in 1997, the company has invested Rs 1,116 crore. The first manufacturing facility was set up at Noida while the second one was set at Rajangaon, Pune. The Pune facility is equipped to manufacture GSM phones, colour televisions (CTVs), microwave ovens, refrigerators and optical disk drives.
LG is aiming to create new paradigms and has an ambitious plan of introducing 3G phones in India in 2007. These high-tech phones will be introduced keeping the tech-savvy Indian audience in mind.
With increasing competition, mass products are fast giving way to products that are specifically designed for niche segment audience. LG is closely looking at a customer segment, which is not only in sync with the latest global technology and trends, but is also extremely quality-conscious, noted Shin.