LG is planning to make a come back to the India smartphone market soon. The company is said to focus on the sub Rs 15,000 mark in India with its comeback.
As of now, the sub-Rs 15,000 smartphone segment is filled and dominated with devices from Redmi, Poco, Realme, Oppo, and Vivo. Now, LG is planning to enter the market and capitalize on the ant-China sentiment that's going on in India currently.
The Indian government has banned 59 Chinese apps including Tik Tok, Shareit, and more. And, on the social media platforms, there are been a lot of anti-China comments and boycott Chinese products and use Indian or non-Chinese products as an alternative.
In an interview with Economic Times, Advait Vaidya, Business Head of mobile communications at LG has revealed some of their plans for the near future in the Indian market. For starters, he said this is a window of opportunity for them but, the strategy of the brand is not limited to the Anti-China sentiments that are happening around the country. For those who are unaware, LG is a South Korean brand.
Further, he also said that the company will be launching six smartphones across segments starting from the sub-Rs 10,000 to a flagship smartphone. These devices will be distributed across online and offline channels. LG is also partnering with other enterprises to build a business with different state governments.
Talking about manufacturing, he added that the company is ramping up massively. Compared to January 2020, the company is said to ramp up the production by 10X. He also added by the time of Diwali, the production will be up by 12X to 15X. LG will be mainly focussing on the sub-Rs 15,000 segments since that is the hottest and more affordable segment in India. To reach the tier 2 and tier 3 cities, LG will be having a strong offline presence in addition to the online presence.
Currently, LG has two manufacturing hubs. One in Pune and one in Noida for all products. The high-end smartphones are produced in Pune as of now. He also mentioned that LG has exported its smartphones which were made in India to the Middle East and Africa. And, lastly, LG is also planning to enter the tablet market in India by the end of 2020 since there has been a spike in the e-learning sector.
Source: Economic Times
