LG India MD Soon Kwon has revealed that his company is aiming to earn INR 2000 crores in revenue from smartphone sales by next year as they strive to capture 10 percent of the country’s smartphone market.
“According to GfK, about 50 million smartphones are expected to be sold in India. We are looking at 10 per cent market share in smartphones by 2014,” Kwon told PTI.
LG is also expecting strong sales of its flagship LG G2 smartphone, which was launched in late-September.
“We expect 10% of target to come from G2 which should be about Rs 200 crore, from total of about Rs 2,000 crore,” Kwon added.
Priced at INR 41,500, LG G2 features a 5.2-inch FHD display, Snapdragon 800 processor, 13MP rear camera, 2.1MP front camera and 16/ 32GB of internal storage.
In related news, LG and Google will soon launch the new Nexus 5 smartphone in the country, which will retail starting INR 28,900.