Consumer electronics giant LG is hoping to cash in on the anti-China sentiment to re-establish its position in the smartphone segment in India. The company, which has seen its market share drop from 7% in 2011 to less than 0.5% currently, is focussing on its Made in India portfolio of smartphones.
Speaking to TNM, Advait Vaidya, Business Head, Mobile Communications, LG Electronics India says that it’s made and designed in India ‘W series’ launched last year received tremendous response. This, he says, is testimony to the fact that there is a demand for LG’s smartphones.
“We are ready with innovation, expertise and strategy to address every kind of consumer demand that is flowing in our direction,” he adds.
Starting August, LG will be launching six new smartphones across all segments, starting with the sub-Rs 10,000 category up to the flagship segment.
LG’s main target however is the sub-Rs 15,000 segment, which the company says is the price band that has always occupied the major pie of the smartphone market in India. And COVID-19 impact has only strengthened this affordable category, resulting in increased demand for smartphones priced under Rs 15,000.
“In addition to it, we will be bringing most of the global launches in the premium segment in India as well. And we are also foraying in the tablet market by the end of this year as there is a huge adoption in e-learning,” says Advait.
In the past two months, LG claims to have seen 9-10 times increased sellout in its smartphones. “Seeing the upsurge in demand for LG smartphones, we are ramping up our manufacturing on a massive scale. And because we can foresee more increase in demand in the coming festive season, by Diwali we will be at 12-15X manufacturing capacity to cater to the same,” Advait adds.
“The Indian smartphone market is very dynamic in nature and while earlier, we only launched global products, now we will be launching a mix of global and Indian insight-based products. We are confident of targeting a good market share in 2020 through strong product portfolio,” he adds.
Along with the new launches, it is also ramping up the availability of its W series. LG is also working to expand its channel as well as ramping up the support infrastructure.
“Starting next month, along with six new smartphone announcements, the industry shall witness a re-emergence of LG in the smartphone space. We will have a robust product portfolio with a mix of global & India specific mobile phones,” Advait says.