NEW DELHI: South Korean consumer electronics major LG has started making smartphones in India and launched two new locally made phones - K7 and K 10 priced at `9,500 and `13,500, respectively.
LG joins a number of foreign companies in the government’s Make in India initiative which has attracted players like Xiaomi, Gionee and Huawei, among others. “We are optimistic that the new models will drive smartphone growth for LG,” said Kim Ki Wan, MD of LG India. It also inaugurated the mobile manufacturing plant based out of Noida.
Ravi Shankar Prasad, Telecom Minister asked the company to make more phones locally and added that if required more policies could be brought out for encouraging investment into local manufacturing of smartphones. “Kim informed me that they will make one million phones from here (the plant),” he said.
“The Indian digital ecosystem will be a $1 trillion economy in the next five years with $400 billion contribution from smartphones and electronics manufacturing, $350 billion from IT & ITeS enables services and $250 billion from communications services.”
India is a strategic market for LG where it has attempted several times to establish itself as a contender brand.
Minister for more policy guidelines
Union Minister of Communications and Information Technology Ravi Shankar Prasad has assured to introduce more policy guidelines if required, to boost manufacturing of electronic and telecom equipment in India. Demand for electronic products in India is expected to reach $400 billion by 2020. “I am deeply impressed that they (LG) will make one million smartphones at this facility which they have started,” Telecom Secretary R S Prasad said. He said, India has volumes for domestic consumption and also exports.