The Hindu Business Line : LG Electronics firms up plan to invest Rs 100 cr

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Rs 33 crore to be invested in its manufacturing facility at Ranjangaon, Pune
Facility equipped to manufacture GSM phones, colour TVs, microwave ovens, refrigerators and optical disk drives

MR M.B SHIN

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Kolkata Jan. 28 LG Electronics India Ltd (LGEIL) has firmed-up plans to invest Rs 100 crore on augmentation and upgradation of various capabilities in the current calendar year. Of the Rs 100 crore proposed to be invested, Rs 33 crore would be invested in the company's manufacturing facility at Ranjangaon, Pune, according to Mr M.B. Shin, Managing Director of LGEIL. The company is also firming up plans to produce 3G phones in India this year.

Responding to a questionnaire sent by e-mail, Mr Shin stated that between 1997 — when LG made its foray into India — and now, LGEIL had invested Rs 1,116 crore in India.

While the company's first manufacturing facility was set up in Noida, the second has been set up at Ranjangaon, Pune. The Ranjangaon facility is equipped to manufacture GSM phones, colour televisions (CTVs), microwave ovens, refrigerators and optical disk drives.

Tech-savvy customer

Mr Shin stated that LGEIL "aims to produce" 3G phones in India in 2007. According to him, LG was aiming to create "new paradigms with the introduction of this high-tech enabled phones keeping in mind the tech-savvy Indian audience. With increasing competition, mass products are fast giving way to products that are specifically designed for niche segment audience. LG is closely looking at a customer segment which is not only in sync with the latest global technology and trends, but is also extremely quality-conscious. ".

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