Press Trust of IndiaJun 26, 2019 14:09:41 IST
Korean tech giant LG is betting on new India-first 'W' series of smartphones to woo consumers in the hyper-competitive Indian phone market, and grab double-digit share over the next two years. LG will introduce five devices under its W series, which will be available online in partnership with Amazon.in, as it aims to sell about one million units by December-end.
Competing against majors like Xiaomi and Samsung, LG will also bring in smartphones from its global portfolio to the Indian market.
"We reached out to our headquarters about a year ago to request them for an India-specific portfolio and after deliberations, they allowed us. So, India is the first country where LG will have its own portfolio of smartphones," LG Electronics India Business Head Mobile Communication Advait Vaidya told .
He added that the first two devices from the W series will be available from July, followed by another sometime in August and two more around Diwali.
The W series - manufactured in India - will be priced between Rs 8,000-15,000.
"Our aim is to sell one million units of the W series by the end of the calendar year. In the next 18-24 months, assuming that 5G comes in, we are aiming for a double-digit market share in India," Vaidya said.
India is one the biggest markets globally for smartphones.
According to research firm IDC, India's smartphone market grew over 7 per cent year-on-year to 32.1 million units in the January-March 2019 quarter.
Xiaomi led the market with 30.6 per cent share, followed by Samsung (22.3 per cent), Vivo (13 per cent), Oppo (7.6 per cent) and Realme (6 per cent).
Talking about LG's strategy, Vaidya said the company will focus on the youth.
"If you look at the W30 and W30 Pro, they have a triple camera setup. Our portfolio will be feature-rich at affordable prices," he said, adding that LG will also bring four-five models from its international portfolio to India.
He declined to comment on marketing budgets but said the company "will not shy away" from spending where required.
LG's bet on online channel is similar to rival Samsung's approach. Earlier this year, Samsung had launched an India-first 'M' series that is also sold through Amazon.
Industry estimates suggest that around 30 per cent smartphones sales in the country are through online platforms.
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