 "LG India eyes double-digit market share in smartphones by mid-2020")
Korean tech major LG India is aiming for a double-digit market share in smartphones by mid- 2020, a senior company official said on Friday.
At present, the company has a miniscule market share of 0.5 per cent in the segment.
"We expect double-digit market share by mid-2020 with the India-specific, value-for-money 'W' series," LG India Business Head (Mobiles) Advait Vaidya said.
The 'W' series of smartphones, starting at Rs 8,999, was launched in the city on Friday.
"We will continue with this series for the India market, at least for now," Vaidya said when asked whether the company will introduce any other model in the mass segment.
The W series, which is only available online, will make its way to offline channels during the upcoming festive season.
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He also said LG is aiming to be a major player in the 5G ecosystem.
"Bigger penetration with value-for-money models is a building block to become a considerable player when India moves to 5G," Vaidya said.
Speaking at an event on Thursday, he had said that 5G is likely to be be rolled out in India next year. "In the global market in US, Korea and some parts of Europe where 5G was launched, LG has unveiled the 'V 50'," Vaidya said.
Vaidya added that LG is in the process of ramping up its smartphones' capacity at the Pune facility, but did not elaborate on it.