LG is one of the biggest smartphone manufacturers in the world. This Korea-based smartphone OEM has been doing great as far as profits go. The company has released a number of solid offering in the last year or two, including a couple of devices from their flagship LG G series of phones. The company has announced LG G4 back in April, and that is their latest flagship offering. LG will launch a number of devices before the end of this year, and it seems like the company wants to start manufacturing smartphones in India, much like a number of other OEMs.
India is the second largest smartphone market in the world, and it's not exactly a surprise that many OEMs are looking for a way to sell their devices over there. A number of OEMs started selling smartphones in India over the last year or so, and many of them want to manufacture them in that Asian country as well. India's Prime Minister has introduced 'Make in India' initiative last year, which essentially benefits the companies which choose to manufacture devices in India. Xiaomi has already said that they intend to do so, and same can be said for Foxconn, and a number of other companies.
Well, LG is looking expand their presence in India. According to the latest report, LG plans to invest Rs. 1000 crore ($157 million) in 2015 on research and development (R&D) and marketing. This Korean company already has a team of 1000 software engineers employed in the Bangalore-based R&D facility, and it seems like they intend to expand that number. The Managing Director at LG India, Soon Kwon, said that mobile sales account for up to 10% of total revenue, and that LG wants to increase that to 15%.
That being said, LG already has two manufacturing plants in India, though they manufacture refrigerators and air conditioners over there, not smartphones. Mr. Kwon didn't exactly share any details regarding their plans to manufacture smartphones in India, but it seems like that's going to happen soon. The report also claims that LG will add around 40 smartphones to their portfolio before the end of this year, and chances are this company will open the manufacturing plant before the end 2015. Either way, we'll let you know if something new pops up.