LG Plans to Invest $157 Million in India and Build a Smartphone Manufacturing Facility
This year, LG Electronics managed to bring on the market a pretty premium smartphone, and that one is LG G4, phone that comes with genuine leather back covers. According to some news reports, LG plans to invest up to $!57 million in India, money that will be spent on Research and Development (R&D), and also marketing. At the moment, LG has a team of 1000 software engineers working in India.
Soon Kwon, LG India managing director said that the mobile sales account for 10% of total revenues, and the company wants to increase it up to 15% in the future. LG Electronics also plans to build a smartphone manufacturing facility in India, country where LG is currently producing refrigerators and air conditioners.
According to the company, until the end of this year, the smartphone portfolio will grow with another 20 new handsets. You must know that recently, LG brought on the Indian market its latest phone, more precisely the LG G4. This one is priced at Rs. 51.000 / $802.