South Korean consumer durables major LG Electronics India has chalked out plans to double its share in the mobile handset market.
The company is eyeing in rural markets and smaller towns coupled with innovative products customised for Indian users to ramp up its sales.
“We plan to sell close to 10 million GSM-based handsets by December-end,” said
Sudhin Mathur, business head, mobile communication, LG Electronics India.
The company sold close to 3.5 million handsets in 2009.
Around 100 million mobile handsets are sold in a year in India and the market is expanding by around 6 per cent. Industry analysts attribute handset market in India at around Rs 22,000 crore.
“We will substantially ramp up our distribution network that will encompass around 50,000 retailers by end of 2010. Our handsets were available with 20,000 retailers in 2009,” Mathur said.
Sale of handsets contributed Rs 1,000 crore (around 10 per cent) to overall revenues for LG Electronics in the country, he said.
“We are eyeing to mop up revenues of around Rs 3,000 crore (15 per cent) from handset sales for the company during the calendar year 2010.”
The company also plans to launch 40 new mobile handsets during the calendar year 2010.