LG to invest in labs for expansion

New Delhi: Electronic Home Appliances major LG Electronic India (LGEIL) is planning to invest Rs 600 crore in its Indian test laboratories this year.

The company would invest another Rs 200 crore during the year in initiating market exercises and Rs 600 crore in labs to test products that will be imported from outside, for Indian market, Moon B Shinh, Managing Director, LGEIL told mediapersons here.

The company is also targeting to corner 15 per cent share of the Indian GSM mobile phone market by 2011, Shinh said.

He said, 'Mobile business is the main focus area for us and we are targeting 15 per cent share of the Indian GSM mobile phone market by 2011. The company is also planning to expand the mobile phone products from low end to touch generation models and will come out with 30 such models with longer battery back up.'

LG sold 10 million GSM and CDMA handsets in 2008 including 2.5 million GSM units. The present market share of GSM is 4.6 per cent which we are targeting 15 per cent in next two years. The company also aims to double the sale of GSM sets from 2.5 million this year while maintaining the CDMA segment for another two years, he said.