Korean electronics giant LG is set to launch as many as 30 new smartphone models in the coming 12 months in India as it tries to pose a challenge to the likes of Samsung, Apple and Sony.
The company’s aggressive stance is significant as hitherto, it has been a quiet player in the country at a time when the smartphone market has grown by leaps and bounds. Even at the global level, LG has remained a fringe player.
LG said this is set to change “very soon”, and has set a target to double its market share in India to 10% by 2014-end. Chung Changhoon, vice-president, brand management at LG Corp, said the company had delayed its plans to ensure that the best technology was being used in its products.
Terming the late start a bit “unfortunate”, he said: “For instance, the G2 (LG’s flagship smartphone), has the best available technology developed in tandem by a number of our sister LG firms for an excellent smartphone experience... all our other models are best in their respective classes.”
The problem may be that the competition has good technology as well, and have cultivated brand recall and customer loyalty while LG was getting its act together.
However, LG is trying to match its ambitions with action, and is strengthening the infrastructure for retail development and marketing activities in the country.
The company’s MD in India, Soon Kwon, said LG will spend over `100 crore to strengthen the infrastructure for smartphone retail and other marketing activities.
“We have decided to go very aggressive in terms of bringing new technology products and bringing these products in the market, be it product, channel and creative marketing we are all ready,” Kwon told HT.