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LG goes Make in India, launches the K7 and K10
Writer Admin Date 2016-12-28 15:31

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 Rs 9,500 and Rs 13,500, respectively.

 

LG joins a number of foriegn companies in the government's Make in India program which has attracted players like Xiaomi, Gionee and Huawei, among others.

 

"We're optimistic that the new models will drive smartphone growth for LG," said Kim Ki Wan, managing director of LG India.

 

The company also inaugurated the mobile manufacturing plant based out of Noida.

 

Telecom minister Ravi Shankar Prasad asked the company to make more phones locally and added that if required more policies could be brought out for encouraging more investment into Local manufacturing of smartphones. "Kim informed me that they will make 1 million phones from here (the plant)," Prasad added.

 

However, LG did not share which other smartphones it will make locally.

 

India is a strategic market for LG where it has attempted several times to establish itself as a contender brand in the country.

 

Local manufacturing will allow the company to benefit from duty differential, rather than paying up about 11% more for importing them.

 

"India is the best place to manufacture phones and electronics, in the world, we will become a global hub with over 500 million phones a year, in a few years, from 110 million now," said telecom secretary JS Deepak said

 

http://economictimes.indiatimes.com/articleshow/51824133.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst