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The third largest cell phone manufacturer of the world, LG Electronics, has decided to launch about 50 new handsets in India by the end of 2009. The major reason for such a step is to increase its market share to 11% in the segment of GSM, which has a rapid growth curve now.
According to Bo H Choi, the Head of Mobile Communication for the Asia Pacific region, LG has plans to double the product line when compared to 2008. He told the media that they are aiming to attain this target by the end of this year. He also mentioned that LG haws plans for increasing its market rate to 11%.
Currently, this South Korean organization enjoys about 5.25% of the market share in the GSM segment. But in the CDMA segment, 50% market share belongs to LG. Choi was addressing the media after the launch of three new smart phones – Crystal GM 730 and the Viwety Smart, at the CommunicAsia 2009 conference in Singapore.
Choi also mentioned that LG will be considering India as a major destination for investments as the demand for new phones from developed countries are on the verge of saturation.
According to VP of LG Electronics, 15 new handsets will be released which will include three handsets which will have the Google OS Android. But these will be released all over the world. LG has also entered into collaboration with the software giant Microsoft Corp so that enhanced features may be incorporated in their smartphones.
An application store which will provide the LG customers with access for digital contents like games and music is also on the move. John Park, VP of LG Electronics told that this application store will be launched after the launch of GM 730.
