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LG India is re-evaluating its smartphone strategy to improve its performance in the country, senior officials said on Wednesday.
“I feel ashamed while speaking about our mobile phone segment. We need to understand why Indian consumers don’t like LG’s mobile phones. And, what I found is that LG mobile phones are not India specific products. We tried to sell products from our global portfolio. If we do marketing and sales activity properly, we will be able to gain significant market share,” said Ki Wan Kim, managing director of LG Electronics, India.
The company is identifying reasons for its poor performance in the mobile phones segment to revitalise LG’s mobile business in an year’s time. While Samsung continues to be the largest phone manufacturer in India, LG is still scratching the surface with its high-end phones that haven’t seen much acceptance in the Indian market.
Kim also hinted that its upcoming V20 flagship smartphone might be launched in India within a month.
The LG V20 will be the first non-Nexus device to be launched with Google's latest Android release - 7.0 Nougat. The company recently announced its partnership with premium audio product maker B&O Play, which will integrate its technology in the upcoming LG smartphone.
The V20 will differ from its predecessor (V10) in terms of display size and resolution.
According to International Data Corporations (IDC) quarterly report, among vendor market share, Samsung leads the Indian smartphone market with a 25.1% share, registering 10.9% sequential growth over the previous quarter and 15% growth from the same period last year.
The top five vendors have stayed the same, with Samsung in the lead, followed by Micromax, Intex, Lenovo and Lava. Established international brands Microsoft, BlackBerry, Sony and LG were the biggest losers as the market shifted toward low-cost, value-for-money handsets.
LG India is also planning to enter in new product segments. "We are looking at more health conscious products. Water purifier, air purifier and ceiling fans are the ones we are considering. We must create, develop and customise products based on consumer insight," Kim added.
Last year, the company invested $40 million in its Pune plant for expansion, and from where it exports various products to over 60 countries. The major contributors are television sets and refrigerators to Africa, UAE and Iran.
LG India has set up its second greenfield manufacturing plant at Ranjangaon near Pune in 2004. It manufactures optical storage devices. Colour television sets, air conditioners, washing machines, refrigerators microwave ovens and colour monitors.
Ashamed of our mobile phone segment in India, says top LG official | Business Standard
“I feel ashamed while speaking about our mobile phone segment. We need to understand why Indian consumers don’t like LG’s mobile phones. And, what I found is that LG mobile phones are not India specific products. We tried to sell products from our global portfolio. If we do marketing and sales activity properly, we will be able to gain significant market share,” said Ki Wan Kim, managing director of LG Electronics, India.
The company is identifying reasons for its poor performance in the mobile phones segment to revitalise LG’s mobile business in an year’s time. While Samsung continues to be the largest phone manufacturer in India, LG is still scratching the surface with its high-end phones that haven’t seen much acceptance in the Indian market.
Kim also hinted that its upcoming V20 flagship smartphone might be launched in India within a month.
The LG V20 will be the first non-Nexus device to be launched with Google's latest Android release - 7.0 Nougat. The company recently announced its partnership with premium audio product maker B&O Play, which will integrate its technology in the upcoming LG smartphone.
The V20 will differ from its predecessor (V10) in terms of display size and resolution.
According to International Data Corporations (IDC) quarterly report, among vendor market share, Samsung leads the Indian smartphone market with a 25.1% share, registering 10.9% sequential growth over the previous quarter and 15% growth from the same period last year.
The top five vendors have stayed the same, with Samsung in the lead, followed by Micromax, Intex, Lenovo and Lava. Established international brands Microsoft, BlackBerry, Sony and LG were the biggest losers as the market shifted toward low-cost, value-for-money handsets.
LG India is also planning to enter in new product segments. "We are looking at more health conscious products. Water purifier, air purifier and ceiling fans are the ones we are considering. We must create, develop and customise products based on consumer insight," Kim added.
Last year, the company invested $40 million in its Pune plant for expansion, and from where it exports various products to over 60 countries. The major contributors are television sets and refrigerators to Africa, UAE and Iran.
LG India has set up its second greenfield manufacturing plant at Ranjangaon near Pune in 2004. It manufactures optical storage devices. Colour television sets, air conditioners, washing machines, refrigerators microwave ovens and colour monitors.
Ashamed of our mobile phone segment in India, says top LG official | Business Standard
