LG eyes 10% market share in GSM segment by Dec '08

New Delhi, Aug 30 (UNI) Consumer goods giant LG Electronics will increase its market share to 10 per cent from 1.4 per cent in the country's GSM segment through introducing premium mobile phones by December 2008.

''GSM is our strategic growth engine and we are targetting a market share of 10 per cent by December 2008,'' LG Electronics India Managing Director Moon B Shin told reporters during the launch of its premium handset here today.

To increase its GSM market share, the company will bring new premium mobile phones in the coming days, resort to extensive marketing activity for bringing awareness, and concentrate on four P's of marketing -- product, price, place and promotion, LG Electronics India Business Group Head, GSM and Kitchen Appliances Anil Arora said.

''We will spend Rs 80 crore on all these promotional measures by December next year,'' Mr Arora said.

The company's total market share (GSM and CDMA) in the country was 20 per cent last year, Mr Shin said.

LG Electronics sold 80 million units both GSM and CDMA last year globally, 10 million in India alone.

The company is also eyeing to be among the top three players in the premium handsets segment in the country.

''The Indian market in one of the key markets and has the potential to grow at a double digit rates annually. We are confident this year we will have an even stronger presence in the premium fashionable and advanced handsets and clear focus on stylish handsets,'' LG Mobile Communications Vice-President (Asia, West Asia and Africa) Bo H Choi said.

The company is planning to scale up the production of personal computers (PC) at its Ranjangaon manufacturing plant in Pune by December next year.

''Personal Computer is our strategic growth engine and we are planning to increase the PCs production from two lakh units to 3.5 lakh units by the end of next year,'' Mr Shin said.

UNI